MOSCOW, Feb. 16 - Standard & Poor's Ratings Services has placed its 'B' long-term foreign currency and 'B+' local currency sovereign credit ratings on Ukraine on CreditWatch with negative implications, reflecting mounting execution risks to the country's Standby Arrangement with the IMF.

Standard & Poor's is currently waiting for further clarification from the government on the execution of the IMF program. Depending on the nature of such information, a ratings decision will be finalized over the next two weeks. When the CreditWatch is resolved, Ukraine's rating could be lowered by one or more notches.