World Markets

S&P ups Ukraine outlook to stable from negative

A Ukrainian serviceman sits atop an armored personnel carrier near the eastern Ukrainian city of Slavyansk.
Genya Savilov | AFP | Getty Images

Standard & Poor's revised its outlook on Ukraine to stable from negative, saying that the International Monetary Fund program adopted in April has helped improve the economic situation in the country.

However, the agency noted that the IMF program could be impacted by geopolitical risks and a severe recession.

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"Full disbursement of the International Monetary Fund (IMF) program and related multilateral lending should enable Ukraine to meet its external financing needs over the next year," the ratings agency said in a statement.

Standard & Poor's affirmed the 'CCC' long-term foreign currency sovereign credit ratings.

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—By Reuters