S&Ps revises BICRA on Ukraine to group 9.

By bne IntelliNews November 10, 2011
Standard & Poor's Ratings Services said that it is revising its Banking Industry Country Risk Assessment (BICRA) on Ukraine to group '9' from group '10'. It is also maintaining the economic risk score at '10', and assigning an industry risk score of '7', the rating agency said in a statement. According to the statement, the risk score for Ukraine is '10'. In addition to the Ukraine, group '9' also includes Azerbaijan, Venezuela, Jamaica, Paraguay and Cambodia, S&P said. S&P says they reviewed the banking sector of Ukraine (B+/Stable/B; Ukraine national scale 'uaAA-') under their updated BICRA methodology. This reflects the agencys opinion that Ukraine has "very high risk" in "economic resilience" and "economic imbalance", and "extremely high risk" in "credit risk in the economy", as our criteria define these terms. Ukraine's economy remains concentrated, with the metallurgical and chemical sectors comprising more than 60% of the export basket, which makes it vulnerable to external market fluctuations. Under the IMF financing program, Ukraine's government has initiated tax and pension reforms that appear to be improving financial stability prospects. However, further possible policy setbacks could derail the IMF program and thus weaken external, monetary, and fiscal indicators.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Metro Ukraine raises sales by 11% y/y to EUR 877mn in 2012.

In 2012, Metro Cash&Carry Ukraine, which is a retail division of the Metro Group (Germany), raised sales by 10.9% y/y to EUR 877mn, the company said. The company opened two new wholesale ... more

NBU: Gross external debt of Ukraine up 2% q/q in Q4/2012

The Naftogaz Ukrainy has repaid UAH 2.4bn worth of loans so far in 2013. The company was able to repay this amount of loans because of economy of natural gas in all areas of its operation, ... more

EC makes new recommendations for Ukraine.

The European Commission recommends Ukraine to focus on meeting its commitments under the association agenda, reads the ENP Country Progress Report 2012 - Ukraine released on Wednesday. In ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    5 days ago
  2. Russia’s war economy boosted by rising oil prices
    7 days ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Iran vs Israel: Who is better equipped for war?
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    23 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss