KIEV, May 17 - Standard & Poor's raised Ukraine’s foreign currency sovereign credit ratings to 'B/B', from 'B-/C', also raising the local currency ratings, the agency said in a statement. The outlook is stable.

The upgrade reflects the view of Ukraine's “improved policy coordination, as evidenced by an improvement in the government's external relations with key trading partners, a 30% reduction in this year's tariffs on gas negotiated with Russia,” S&P said.