R&I upgraded Ukraine's rating from B+ to BB-

Economy · 14:12 28.01.2005

The international rating agency Rating and Investment Information, Inc (Japan) on January 26 raised Ukraine's long-term foreign currency loan rating from B+ to BB-. This was stated in the public relations and media department of the Ministry of Finance with reference to R&I's official announcement, reports "Ukrainian News."

According to the announcement, the rating outlook is stable. R&I motivates the rating upgrade by the continuation of the economic growth trend and Ukraine's positive balance of payments. "After the first changes in the government, democracy is beginning to take root in the country and a new era of more transparent economic and political processes is beginning," the press service announcement says, citing R&I analysts.

Recall that in October 2003, R&I raised Ukraine's rating from U to B+. Earlier, in January 2003, R&I raised Ukraine's rating from "B-" to "B." In mid-January 2005, Fitch raised Ukraine's rating from B+ to BB-.

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R&I upgraded Ukraine's rating from B+ to BB-

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