KIEV, Oct. 21 - Ukrainian bank ratings are likely to remain at current weak levels for the foreseeable future despite signs of some improvement in the operating environment now that agreement to restructure $18 billion of sovereign external debt has been reached, Fitch Ratings said on its website.

"The country's three largest banks also restructured around $2.9 billion of debt owed to international creditors, easing near-term liquidity risks. Nonetheless, capital shortfalls for the sector are considerable and capital adequacy ratios no longer meet minimum requirements. Viability Ratings assigned by Fitch to Ukraine's banks are mostly in the 'CCC' level, indicating substantial credit risk and likelihood of default," reads the report.