(Adds details, background)
July 11 Standard & Poor's revised its outlook on
Ukraine to stable from negative, saying that the International
Monetary Fund program adopted in April has helped improve the
economic situation in the country.
However, the agency noted that the IMF program could be
impacted by geopolitical risks and a severe recession.
"Full disbursement of the International Monetary Fund
program and related multilateral lending should enable Ukraine
to meet its external financing needs over the next year," the
ratings agency said in a statement. (bit.ly/1jjUXau)
Ukraine said on Wednesday it remained confident of receiving
further aid under the bailout program and appealed to Western
institutions and donors for further cash and credit.
Standard & Poor's also said the new government under Prime
Minister Arseny Yatseniuk had been stable and "relatively
The IMF's board signed off on a $17 billion two-year aid
program for Ukraine in April to help the former Soviet
republic's economy recover after months of upheaval.
The ratings agency said on Friday that it did not expect the
geopolitical environment to stabilize in the short term.
Standard & Poor's affirmed the 'CCC' long-term foreign
currency sovereign credit ratings.
(Reporting By Narottam Medhora in Bangalore; Editing by Sriraj