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S&P’s sees very low probability of Ukraine’s default [08.02.2010 - 15:20] © GAAP-IFRS.com Details The international rating agency Standard&Poor’s sees very low probability of default for Ukraine. Even in conditions like that, when the country’s budget for 2010 hasn’t been approved yet, and when there is no information on who is going to be the next president (the press-release was issued before the second round of elections that took place yesterday – GAAP-IFRS.com) , the “inevitable” default is still too far away. S&P’s noted, however, that Ukraine’s state finance would be under pressure for the whole year 2010 in the absence of consistent energy and pension reforms.
In October 2009, S&P’s confirmed short- and long term credit ratings for Ukraine on obligations in foreign currency (CCC+/Ñ) and on obligations in national currency (Â-/Ñ). The agency also confirmed the country’s national scale rating at uaBBB. The forecast, however, was lowered from “positive” to “stable”.
Source: FundMarket
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