International rating agency Standard & Poor's has downgraded Ukraine's long-term foreign currency rating to B+ from BB-. S & P made this statement.

The agency also lowered Ukraine's long-term local currency rating to BB- from BB.

The ratings' outlook is Stable.

At the same time S & P affirmed Ukraine's short-term foreign currency and local currency ratings at B, and also the country's uaAA national-scale rating.

The so-called external debt coverage also remains the same at 4.

S & P names low efficiency of the government authorities' attempts to curb inflation among the reasons for downgrading Ukraine's ratings.

As Ukrainian News reported, in August 2006, Standard & Poor's affirmed Ukraine's BB- long-term foreign-currency, BB long-term local-currency, and B short-term sovereign credit ratings.