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S&P revises Ukraine's long-term outlook to stable from negative
December 26, 2013 / 6:26 AM / 4 years ago

S&P revises Ukraine's long-term outlook to stable from negative

MOSCOW, Dec 26 (Reuters) - Ratings agency Standard and Poor’s said on Thursday it revised the outlook on Ukraine’s long-term sovereign ‘B-’ rating to stable from negative, citing reduced external and fiscal funding challenges thanks to the recent financial aid from Moscow.

“The stable outlook reflects our view that the $15 billion in direct financing, which Russia announced... should cover (Ukraine‘s) government’s external financing needs over the next 12 months,” it said in a statement.

Russia agreed to bail out Ukraine by purchasing its sovereign bonds after Kiev performed a sharp foreign policy U-turn and shelved plans to sign deals on political association and free trade with the European Union in late November.

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