S&P upgrades Ukraine from 'selective default'
New York-based agency said it was raising Ukraine's foreign currency sovereign rating
KIEV (AFP) - Standard and Poor s upgraded Ukraine s credit rating on Monday from "selective default" thanks to the cash-strapped former Soviet country s ability to strike a major debt write-down deal.
The New York-based agency said it was raising Ukraine s foreign currency sovereign rating from SD to B-/B -- a grade defined as "highly speculative" but one that leaves the door open to future borrowing from abroad.
