Ukraine National Commission on Securities and Stock Market has approved draft regulations for public discussion that would set requirements for rating agencies, including foreign agencies, seeking to operate in Ukraine and issue public credit or sovereign ratings. The drafts specify the authorisation process and required documentation, and set out rules for rating agencies’ ongoing activities and reporting. The package is intended to support implementation of new legislation taking effect on 1 January 2026 and to align domestic oversight with the Law of Ukraine "On Rating". The public discussion is open from 5 November to 2 December 2025.