Makrognosis

Ukraine Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:UA

Model score50 / 1009 Nov 2026
Grade equivalentBB+model-implied
BandSpeculative grade0–100 scale, 100 = strongest
Rank67th of 84economies scored

Makrognosis sovereign credit model scores Ukraine at 50 out of 100 as of 9 November 2026, equivalent to BB+ on the familiar letter scale — speculative grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Ukraine 67th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 92.1% of GDP, a fiscal balance of −18.8% of GDP, a current account balance of −8.0% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Ukraine sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 20261020304050Robomacro
Ukraine sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202650.4BB+
1 October 202650.4BB+
31 July 202650.4BB+
30 July 202631.8B
26 July 202631.5B
21 June 202623.9B-
18 June 202615.7CCC
Get the Ukraine sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/UA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/UA",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Ukraine, from official national and international statistics.

InputValueVintage
GDP per capitaUS$5,865.92026
Real GDP growth, 5-year average−2.9%2026
Inflation, recent average8.4%2026
Government debt92.1% of GDP2026
Fiscal balance−18.8% of GDP2026
Current account balance−8.0% of GDP2026
External debt101.3% of GDP2026
Foreign-exchange reserves5.0 months of imports2026
Governance (World Bank WGI composite)−0.4732026

How Ukraine compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
62Philippines9 Nov 202654
63Kazakhstan9 Nov 202653
64China9 Nov 202653
65Morocco9 Nov 202653
66Ivory Coast9 Nov 202652
67Ukraine9 Nov 202650
68Tanzania9 Nov 202650
69Ecuador9 Nov 202649
70Kenya9 Nov 202649
71Serbia9 Nov 202648
72Algeria9 Nov 202648
73Laos9 Nov 202647

All 84 economies ranked →

Ukraine economic indicators

Ukraine Inflation Rate (CPI)Ukraine Industrial ProductionUkraine State and government-guaranteed debt, UAH billion (MoF YKT2 year-end)

FAQ

What is Ukraine's credit rating?
Makrognosis sovereign credit model scores Ukraine at 50/100 as of 9 November 2026, equivalent to BB+ (speculative grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/UA returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.