KYIV, Aug 9 – Japan's Rating and Investment Information (R&I) has upgraded Ukraine's foreign currency issuer rating to "B" from "CCC+," the agency said in a press release on Friday.

The rating outlook is stable.

"Although there are difficult challenges to address, such as conflicts in the eastern part of the country and promotion of structural reforms, having a stable power base will allow the government to focus on its policy agendas, which can be highly evaluated. Based on these considerations, R&I has upgraded the Foreign Currency Issuer Rating to 'B,'" it said.