KIEV, Jan. 6 - Moody's Investors Service's B2 sovereign bond ratings with a negative outlook incorporates a "low" economic strength assessment based on low per capita GDP, a relatively undiversified economy and very volatile economic growth, the agency said in its new annual report on Ukraine.

"This assessment also reflects subdued post-crisis potential growth against the backdrop of a deteriorating global environment. A lack of structural reforms hinders Ukraine from unlocking the economic potential of its favorable geographic location, educated and low-wage work force and substantial natural resource endowments," the report reads.