(Reuters:) Moody’s (NYSE ) has downgraded Ukraine’s currency sovereign credit rating (Caa3 from Caa2) to Friday. The negative outlook cites increased risks to government’s debt sustainability following Russia’s invasion.

The ratings agency stated that Ukraine has been receiving large international financial assistance commitments, which help to reduce liquidity risks. However, the significant increase in the government’s debt that resulted from this support is unlikely to be sustainable over the medium-term.

This agency had previously kept the country’s outlook under review. However, it revised it because of uncertainty about the future course of war and the credit implications.

Financial leaders from the Group of Seven agreed Friday to provide $9.5 billion of new assistance to Ukraine. This money will be sufficient to maintain Ukraine’s economy, which has been devastated by Russia’s incursions.

Moody’s predicted that the Ukrainian military conflict will be longer than first thought. It also forecasts that the country’s real GDP (real gross domestic product) will decrease by around 35% between 2022 and 2023.

According to the agency, the Ukrainian economy will begin to recover from 2023. However, Russia’s invasion of Ukraine would cause permanent damage to its GDP.