KIEV, July 29 - Standard & Poor's Ratings Services upgraded Ukraine's sovereign credit ratings Thursday after the International Monetary Fund had approved $15.1 billion lending package to the country.

S&P's one-notch move to B+ on Ukraine's long-term foreign currency Thursday puts the rating one step higher than Fitch's and four notches below investment-grade status.

Fitch Ratings boosted its grade on Ukraine by one notch earlier this month, moving it to B.

S&P also raised the country's long-term local currency rating one step to BB-, one rung higher than the foreign-currency rating. The outlook is stable.