Rating and Investment Information (R&I), one of Japan’s two rating agencies, has upgraded Ukraine’s Foreign Currency Issuer Rating from CCC+ to B with a stable outlook as international optimism over the country’s economic prospects continues to grow.
In a statement released on 9 August, R&I cited a number of factors behind the improved economic outlook for Ukraine, including increasing foreign currency reserves and the country’s disciplined fiscal policy.
Meanwhile, the agency noted that the July 2019 victory of President Zelenskyy’s Servant of the People political party in preterm Ukrainian parliamentary elections had created a stable power base that should now allow the government to focus on its policy agendas and pursue business-friendly reforms in the months ahead.