The international rating agency Fitch Ratings has affirmed Ukraine’s long-term foreign currency default rating at the level of “RD”, which means limited default. This is stated in a statement published on the agency’s website.
The rating is maintained at ‘RD’ due to the Ukrainian authorities’ decision to suspend payments on the country’s sovereign debt due to the ongoing debt restructuring process.
The ‘RD’ rating will be maintained until Fitch acknowledges the completion of debt repayments and the normalisation of Ukraine’s relations with most foreign creditors.
Despite the confirmation of limited default, the long-term local currency rating was upgraded to ‘CCC+’ and the short-term ratings in both currencies remained at ‘C’. The country rating ceiling remained at ‘B-‘.
Earlier, the Federation of Employers of Ukraine opposed the planned four-fold increase in the gas transportation tariff in 2025, calling it disastrous for the country’s economy.
