Standard & Poor's Ratings Services has affirmed its 'B/B' long- and short-term foreign and local currency sovereign credit ratings on Ukraine, and the outlook remains negative, the rating agency has said in a statement.

The long-term Ukraine national scale rating was affirmed at 'uaA-'.

"The ratings on Ukraine are constrained by our view of political uncertainty, financial sector stress, and weak external liquidity. In particular, we think that the government's strategy to secure foreign currency to meet its elevated external financing needs over the medium term remains contingent on favorable financing conditions in the capital markets. The ratings are supported by Ukraine's still relatively low, albeit rising, government debt burden and fairly diversified economy," reads the statement.

As reported, in December 2012, S&P downgraded long-term foreign and local currency sovereign credit ratings on Ukraine from 'B+' to 'B.' The outlook remained negative.

The Ukraine national scale rating was also lowered - from 'uaA+' to 'uaA-.'

Ukrinform