MOSCOW Wed Dec 18, 2013 5:45am EST
MOSCOW Dec 18 (Reuters) - Russia's financial support package for Ukraine, envisaging $15 billion in bond purchases and a gas price discount, could substantially ease external pressures for Ukraine and offer support for its 'B-' rating, an S&P analyst said on Wednesday.
S&P cut Ukraine's rating in November 2013, retaining a negative outlook.
"We will assess the terms and timing of the funds to be provided once we have more clarity on these issues," Trevor Cullinan told Reuters in an email.
"Standard & Poor's will also consider the implications for political stability of closer financial ties to Russia".
Russia agreed a $15 billion bailout for Ukraine and slashed the price of gas exports on Tuesday.
Ukraine needs money to cover an external funding gap of $17 billion next year - almost the level of the central bank's depleted currency reserves - and avoid defaulting on its debts.
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