GC Asia
UkraineInvest criticises Moody’s for ratings lag
The chairman of UkraineInvest, a body set up to promote investment in the country, castigated the rating agency Moody’s on Monday over its cautious approach to upgrading the sovereign from a C rating, asking if the firm had an institutional bias against Ukraine.
Daniel Bilak raised the question at the end of a panel at the Ukrainian Investment Roadshow in London. Associate managing director at Moody’s Investors Service, Yaroslav Sovgyra, had just given a presentation explaining his agency’s decision to hold Ukraine at a Caa1 rating on November 22, while changing
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