Ratings agency Fitch affirms Ukraine's credit rating at 'CC'

NEW YORK, Jan 21 ― Global ratings agency Fitch yesterday affirmed Ukraine's credit rating at 'CC', saying further foreign-currency commercial debt restructuring...

NEW YORK, Jan 21 ― Global ratings agency Fitch yesterday affirmed Ukraine's credit rating at 'CC', saying further foreign-currency commercial debt restructuring is likely due to the economic fallout from the Russia war and large fiscal needs in the medium term.

However, the European nation's economic decline slowed in late 2022 after Russia's retreat from some southern areas of Ukraine. Its national bank in October forecast a continued gradual recovery in gross domestic product in 2023-24.

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