S\u0026P Global Ratings has upgraded Ukraine's long-term foreign currency credit rating to CCC+, outlook stable. This is stated in a message on the company's website.. Previously, the rating of our country was set at the default SD level..

The decision to improve the forecast of S\u0026P was made in connection with the completion of the restructuring of Ukraine's Eurobonds. The government agreed with bondholders on a two-year deferral of payments on sovereign bonds for a total of $22.6 billion and state-guaranteed Eurobonds for $1.5 billion.

“Thanks to the restructuring, Ukraine’s planned payments in foreign currency for 2022-2024 will be reduced by about 40% to $10 billion instead of the previously planned $16 billion. This amount is mainly Ukraine's debt to the IMF and the International Bank for Reconstruction and Development, as well as internal loan bonds..

At the same time, the agency notes that due to the war, Ukraine's ability to fulfill its debt obligations is largely dependent on factors beyond the control of the government..

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As reported, on August 13, the international rating agencies S\u0026P and Fitch downgraded Ukraine's ratings in foreign currency due to problems with the restructuring of the country's debt..

On August 18, Fitch upgraded Ukraine's long-term foreign currency credit rating from 'RD' (limited default) to 'CC' (probable default).