The international rating agency Fitch Ratings announced the affirmation of Ukraine's long-term foreign currency issuer default rating (EDR), setting it at "CC".
According to a statement from Fitch Ratings, this rating reflects the agency's expectations regarding further restructuring of commercial debt before the end of the two-year Eurobond payment moratorium scheduled for September 1, 2024.
Regarding the macro forecast, Fitch Ratings predicts that the Ukrainian economy will grow by 5.1% in 2023, driven by business adaptation to the conditions of the military conflict and increased consumer confidence. The number of Ukrainian refugees remains at 6.3 million as of November 2023, according to the UN. However, the agency predicts a slowdown in the pace of economic recovery by the end of the year, and also expects GDP growth to be 3.8% in 2024 and 4.5% in 2025.
