S&P upgrades Ukraine from 'selective default'

GMT 17:58 2015 Monday ,19 October

Arab Today, arab today S&P upgrades Ukraine from 'selective default'

Ukraine's credit rating
Kiev - Arab Today

Standard and Poor's upgraded Ukraine's credit rating on Monday from "selective default" thanks to the cash-strapped former Soviet country's ability to strike a major debt write-down deal.

The New York-based agency said it was raising Ukraine's foreign currency sovereign rating from 'SD' to 'B-/B' -- a grade defined as "highly speculative" but one that leaves the door open to future borrowing from abroad.

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