Ratings agency Standard and Poor's (S&P) has raised its outlook for Ukraine to stable from negative, after a multi-billion dollar bailout deal from Russia.
S&P said the cash injection of $15 billion -- about 8 percent of Ukraine's predicted 2014 GDP -- "should cover the government's external financing needs over the next 12 months."
Russian President Vladimir Putin last week agreed after talks with Ukrainian counterpart Viktor Yanukovych to buy $15 billion of Ukrainian government debt and also slash the price Ukraine pays for Russian gas by one-third.
S&P added that "based on our expectations of Russia's support" it no longer expected a devaluation of the Ukrainian hryvnia.
But the agency also warned that the Russian support appeared subject to good diplomatic relations between the two ex-Soviet states being maintained. \
Based on reporting by AFP and Interfax