KYIV, Jan 23 – The international rating agency Fitch Ratings has affirmed Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'CC', the agency said on its website.

"The affirmation of Ukraine's Long-Term Foreign-Currency IDR at 'CC' reflects Fitch's view that a further foreign-currency commercial debt restructuring is probable, given the magnitude of economic damage from the war with Russia and resulting large fiscal needs in the medium term, and that a degree of burden sharing by commercial creditors is a likely condition of the large financial assistance extended by the official sector," the agency said, explaining its decision.