| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | SD | - | 5 Aug 2024 | rating downgrade |
| Moody's Investors Service | Ca | - | 13 Feb 2023 | rating downgrade |
| Fitch Ratings | RD | - | 13 Aug 2024 | rating downgrade |
| DBRS | - | - |
Current Ukraine credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Ukraine ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Ukraine, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
Discover what a Credit Rating is and why it matters.
Ukraine: Long-term Rating Scales Comparison
Ukraine long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Ukraine sovereign debt. These scales help investors understand the likelihood that Ukraine will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
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Ukraine Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 13 Aug 2024 | RD | |||
| 5 Aug 2024 | SD | |||
| 11 Mar 2024 | CC | |||
| 7 Apr 2023 | CCC | |||
| 13 Feb 2023 | Ca | |||
| 22 Aug 2022 | CCC+ | |||
| 19 Aug 2022 | CC | |||
| 15 Aug 2022 | SD | RD | ||
| 30 Jul 2022 | CC | |||
| 23 Jul 2022 | C | |||
| 30 May 2022 | CCC+ | |||
| 23 May 2022 | Caa3 | |||
| 7 Mar 2022 | Caa2 | |||
| 28 Feb 2022 | B- | CCC | ||
| 8 Feb 2022 | B | |||
| 9 Aug 2021 | B | |||
| 13 Jun 2020 | B3 | |||
| 23 Apr 2020 | B | |||
| 23 Nov 2019 | Caa1 | |||
| 28 Sep 2019 | B | |||
| 7 Sep 2019 | B | |||
| 24 Dec 2018 | Caa1 | |||
| 25 Aug 2017 | Caa2 | |||
| 11 Nov 2016 | B- | |||
| 19 Nov 2015 | Caa3 | |||
| 18 Nov 2015 | CCC | |||
| 19 Oct 2015 | B- | |||
| 6 Oct 2015 | RD | |||
| 25 Sep 2015 | SD | |||
| 27 Aug 2015 | C | |||
| 10 Apr 2015 | CC | |||
| 24 Mar 2015 | Ca | |||
| 13 Feb 2015 | CC | |||
| 19 Dec 2014 | CCC- | |||
| 11 Jul 2014 | CCC | |||
| 4 Apr 2014 | Caa3 | |||
| 21 Feb 2014 | CCC | |||
| 7 Feb 2014 | CCC | |||
| 31 Jan 2014 | Caa2 | |||
| 28 Jan 2014 | CCC+ | |||
| 26 Dec 2013 | B- | |||
| 8 Nov 2013 | B- | |||
| 1 Nov 2013 | B- | |||
| 20 Sep 2013 | Caa1 | |||
| 28 Jun 2013 | B | |||
| 7 Dec 2012 | B | |||
| 5 Dec 2012 | B3 | |||
| 15 Mar 2012 | B+ | |||
| 15 Dec 2011 | B2 | |||
| 19 Oct 2011 | B | |||
| 21 Jul 2011 | B | |||
| 11 Oct 2010 | B2 | |||
| 29 Jul 2010 | B+ | |||
| 22 Jul 2010 | B | |||
| 6 Jul 2010 | B | |||
| 17 May 2010 | B | |||
| 17 Mar 2010 | B- | |||
| 11 Mar 2010 | B- | |||
| 12 Nov 2009 | B- | |||
| 30 Oct 2009 | CCC+ | |||
| 31 Jul 2009 | CCC+ | |||
| 12 May 2009 | B2 | |||
| 25 Feb 2009 | CCC+ | |||
| 24 Feb 2009 | B1 | |||
| 13 Feb 2009 | B | |||
| 24 Oct 2008 | B | |||
| 20 Oct 2008 | B1 | |||
| 17 Oct 2008 | B+ | |||
| 15 Oct 2008 | B+ | |||
| 25 Sep 2008 | BB- | |||
| 12 Jun 2008 | B+ | |||
| 14 May 2008 | BB- | |||
| 5 Apr 2007 | BB- | |||
| 10 Nov 2006 | B1 | |||
| 25 Oct 2006 | BB- | |||
| 12 Jan 2006 | BB- | |||
| 8 Jun 2005 | BB- | |||
| 11 May 2005 | BB- | |||
| 17 Feb 2005 | B1 | |||
| 21 Jan 2005 | BB- | |||
| 8 Sep 2004 | B1 | |||
| 20 Jul 2004 | B+ | |||
| 10 Nov 2003 | B1 | |||
| 28 Oct 2003 | B | |||
| 28 Jul 2003 | B2 | |||
| 25 Jun 2003 | B+ | |||
| 20 May 2003 | B | |||
| 12 Nov 2002 | B | |||
| 26 Mar 2002 | B | |||
| 24 Jan 2002 | B2 | |||
| 21 Dec 2001 | B | |||
| 20 Nov 2001 | Caa1 | |||
| 13 Jun 2001 | B- | |||
| 5 Jan 2000 | Caa1 | |||
| 9 Sep 1998 | B3 | |||
| 13 Jul 1998 | B2 | |||
| 6 Feb 1998 | B2 |
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