KYIV, April 23 – Fitch Ratings has revised the Outlook on Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Positive and affirmed the IDR at 'B'.

"The revision of Ukraine's Outlook to Stable reflects the significant impact of the COVID-19 pandemic... The heightened macroeconomic and fiscal risks associated with this unprecedented global shock will partially reverse Ukraine's improvements in recent years in terms of a declining debt burden, the normalization of growth prospects after the 2014-2015 geopolitical and economic crises, and reduced growth volatility," Fitch said.