KIEV, May 17 – Standard & Poor's Ratings Services has affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on Ukraine.

"The outlook remains negative," according to the report.

"We also affirmed the long-term Ukraine national scale rating at 'uaA-'," the agency said.

"The ratings on Ukraine are constrained by our view of political uncertainty, financial sector stress, and weak external liquidity. In particular, we think that the government's strategy to secure foreign currency to meet its elevated external financing needs over the medium term remains contingent on favorable financing conditions in the capital markets. The ratings are supported by Ukraine's still relatively low, albeit rising, government debt burden and fairly diversified economy," the rating agency stated.