MOSCOW, Nov. 9 - Fitch Ratings has assigned Ukraine's upcoming 10-year $1 billion eurobond a 'BB-' (BB minus) rating. The rating is in line with Ukraine's foreign currency Issuer Default rating, on which the Outlook is Positive.
"Ukraine's economic performance in 2006 has been strong despite a sharp rise in the gas price in January," said Andrew Colquhoun, Director in Fitch's Sovereigns Group. "Political risk has diminished following the peaceful transition to a new government in August. Ukraine's ratings have the potential to go up the scale if the country achieves continued economic growth without overheating, while establishing a longer record of political stability," he said.