KIEV, Sept. 15 - Fitch Ratings has affirmed Ukraine's Long-term foreign and local currency Issuer Default Ratings at 'B' and affirmed its Short-term IDR at 'B'. The Outlooks on the Long-term IDRs are Stable. Fitch has simultaneously affirmed Ukraine's Country Ceiling at 'B.’

"Despite a strong start in implementing policies under the new IMF loan arrangement, risks to financial and economic stability have not sufficiently lessened since Fitch's July 2010 rating upgrade to warrant a further upgrade of the ratings at this time," said David Heslam, director in Fitch's sovereign team. "A longer track record of consistent policy implementation would provide greater confidence in the medium-term outlook."