R&I upgrades outlook for Ukraine's foreign currency issuer rating.

By bne IntelliNews August 6, 2010
Japan's rating agency, Rating and Investment Information, Inc. (R&I), has upgraded the outlook for Ukraine's foreign currency issuer rating 'B+' from negative to stable, the agency said in a statement posted on its website. Such a decision has been stipulated by the improvement in the country's political situation, fiscal financing, economic conditions and the resumption of cooperation with the International Monetary Fund (IMF). R&I said that the receipt by Ukraine of a USD 15.15bn loan from the IMF had reduced the concern over the government's fiscal financing in the short term. To remind you, earlier Standard & Poor's raised Ukraine's long-term foreign currency issuer rating from 'B' to 'B+,' whereas the country's long-term local currency rating was upgraded from 'B+' to 'BB-.' The rating outlook is stable.

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