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