With the current economic situation taken into account, Prime Minister Yulia Tymoshenko believes that the global rating agencies will shortly upgrade Ukraine's ratings, she said this at the Cabinet meeting Wednesday having referred to the recent rating review for Ukraine by Standard & Poor's Ratings Services.

"I believe that other agencies will soon do the same," Tymoshenko noted, UkrInform reported.

The Premier congratulated all ministers on the Standard & Poor's recent revision of Ukraine's Country Rating Outlook to Positive from Negative. "This move signals that the anti-crisis program is efficient and the decisions we make are correct," the Prime Minister underscored.

As reported, Standard & Poor's Ratings Services revised on July 31 its Outlook for Ukraine to Positive from Negative affirming Ukraine's 'CCC+/C' long- and short-term foreign currency sovereign credit ratings, the 'B-/C' long-term and short-term local currency ratings and Ukraine's 'uaBBB' national scale ratings.

The review reflects a recent progress made by Ukraine on implementing structural budgetary and financial sector reforms in compliance with the USD 16 billion International Monetary Fund stand-by arrangement that had led to the third USD 3.2 billion disbursement last week.


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