Ukraine: S&P upgraded Ukraine\\\'s ratings

Today S&P upgraded Ukraine\\\'s foreign currency rating from B-/C to B/B. The agency also improved Ukraine\\\'s local currency ratings from B/B to B+/B. The outlook on the rating is “stable”. S&P clarified that it based such adjustments on improved policy coordination, the stabilization in country\\\'s external liquidity position, expectations of an increase in useable FX reserves relative to short-term debt and moderate general government debt burden. The news is definitely positive for Ukrainian Eurobonds that should benefit from such rating actions through moderate decrease in YTM. Other credit agencies may also upgrade soon...
(see attachment for additional info)