LONDON, March 18 - Fitch Ratings has affirmed Ukraine's Long-term foreign and local Issuer Default ratings (IDR) at 'BB-' (BB minus) with Positive Outlooks, the agency said in a press release.

The agency has also affirmed the Country Ceiling at 'BB-' (BB minus) and the Short-term IDR at 'B'.

"Ukraine's credit fundamentals are improving owing to solid growth supported by rising investment and FDI. WTO entry in 2008 is positive news, while public debt remains low. However, rising inflation and risks in the banking sector and external finances currently make an upgrade premature," says Andrew Colquhoun, Director in Fitch's Emerging Europe team.