They noted that they will be able to raise the LC ratings if the security situation in Ukraine and the medium-term macroeconomic prospects improve.
The international rating agency S&P Global Ratings notes the high level of uncertainty about the scale, results and consequences of the Russian-Ukrainian war.
This is stated in a statement on the agency's website.
“We expect to upgrade our long-term rating on Ukraine's FC after it completes the expected FC debt swap. We could also raise the ratings in the unlikely event that Ukraine resumes payments on defaulted bonds instead of the debt swap. Our analysis will include the sovereign's credit factors after the restructuring, including the new terms of its external debt, the statement says.
S&P notes that even if Ukraine's economy begins to recover, it is unlikely to reach pre-war levels by 2027. This is due to the enormous damage caused by the war.
The debt restructuring comes amid great economic and financial pressure caused by Russian aggression. Russian troops control about 15% of Ukraine's territory, which is 8-9% of its pre-war GDP. About a third of the population has been displaced, and about 15% have become refugees.
Recall that Deputy Director of the Center for Economic Strategy Maria Repko told what will happen to the dollar exchange rate.
