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exporters.
The decision came after newly appointed Governor Kyrylo Shevchenko said rates must be reduced to help economic growth. Inflation remains well below the central bank’s target of 5%. The hryvnia erased decline, rising for the first time in seven days.
The currency’s decline is “psychological” and the central bank is ready to mitigate any excess fluctuations, Vice Governor Dmytro Sologub said in a video conference following the decision’s announcement.
8.4 ​International ratings
Ukraine - Rating agency
as of July 1, 2020
last change
Moodys (USD rating)
B3 (S)
15/06/20
Fitch (USD rating)
B (S)
24/04/20
S&P
B (S)
27/09/19
Ukraine’s credit ratings have been improving but the country is still rated junk by the three main agencies.
Moody’s rates Ukraine at Caa1​ with stable outlook on its foreign currency debt. The local debt is also rated at Caa1.
Moody’s last upgraded Ukraine from Caa2 (Positive) in August 2017 as the country emerged from an economic meltdown that year. The lowest rating the country had was Ca (Negative) in March 2015 in the wake of the Euromaidan
57​ UKRAINE Country Report​ August 2020 ​ ​www.intellinews.com