Fitch upgrades Ukraine but BAML sees restructuring risk

By Lewis McLellan
09 Sep 2019

Fitch Ratings raised Ukraine’s credit rating from B- to B with a positive outlook. However, Bank of America Merrill Lynch believes that the country is still at risk of another debt restructuring.

The Fitch upgrade takes the country’s rating to Caa1/B-/B. The Fitch rating is the only one of the three to have a positive outlook.

The ratings report cites Ukraine’s access to external financing and its declining public indebtedness. The new president Volodomyr Zelensky has what Fitch calls a ...

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