LONDON, March 12 - Standard & Poor's Ratings Services has raised its foreign-currency sovereign credit rating on Ukraine to 'B-/C' from 'CCC+/C'

The statement said: "Standard & Poor's also said that it raised its local-currency sovereign credit rating on Ukraine to 'B/B' from 'B-/C'.

The outlook on Ukraine is positive."

"We believe that [Thursday]'s formation of a new governing coalition and cabinet in Ukraine has paved the way for better policy coordination and a renewal of relations with the IMF," the statement said quoting Standard & Poor's credit analyst Frank Gill.