KIEV, Nov. 9 – Standard & Poor's Ratings Services is revising its Banking Industry Country Risk Assessment (BICRA) on Ukraine to group '9' from group '10' (the highest-risk banking systems).

"[S&P] is also maintaining the economic risk score at '10', and assigning an industry risk score of '7,'" the agency said in a statement on Wednesday.

A BICRA is scored on a scale from '1' to '10', ranging from the lowest-risk banking systems (group '1') to the highest-risk (group '10'). Other countries in BICRA group '9' include Azerbaijan, Venezuela, Jamaica, Paraguay, and Cambodia, S&P said.

The agency noted that Ukraine's banking sector has been reviewed under its updated BICRA methodology.