KYIV, Aug 2 – S&P Global Ratings has raised the issuer credit rating on Ukrzaliznytsia to 'B-' from 'CCC+', according to a report on the rating agency's website.

"The stable outlook on Ukrzaliznytsia reflects that on the sovereign and our view that Ukrzaliznytsia will manage any liquidity pressure, while its access to long-term financing depends on market conditions and its operating environment remains volatile," the report says.