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Credit Rating

Rating Agency  Current Rating Outlook

Date of Review

Rating Reports

"Standard & Poor's”


СС Negative 8 March 2024 S&P Report

Rating and Investment

Information, Inc.*


ССС With view to downgrading 23 January 2024 R&I Report 

“Fitch Ratings”


СС/CCC-   8 December 2023 Fitch Rating Report 

Moody's Investors Service


Ca Negative 10 February 2023 Moody's Rating Report

*- issuer's credit rating

Credit rating is a conditional expression of the creditworthiness of the rated entity as a whole and/or its separate debt obligation on the scale of credit ratings.

The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors when looking to invest in particular jurisdictions, and also takes into account political risk.

The rating of the issuer characterizes the level of ability of the issuer of securities on time and in full to pay interest and the principal amount of debt obligations relative to other borrowers.

The credit rating represents an evaluation of a credit rating agency of the qualitative and quantitative information for the debtor, including information provided by the debtor and other non-public information obtained by the credit rating agency's analysts. The rating assessment by an international rating agency is based on the scale adopted by such an agency.

The presence of a credit rating is an essential condition for an open financial market and is used internationally, including the process of conducting negotiations with investors and attracting funds both through public placement, as well as in the form of syndicated or private placements.

There are three major rating agencies: Moody's, Standard & Poor's and Fitch Ratings. In addition to the largest three, Ukraine also cooperates with Japanese rating agency Rating and Investment Information, Inc.