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Fitch, S&P cut Ukraine's rating to selective default.

by The Kyiv Independent news desk August 13, 2022 11:00 PM 1 min read
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The rating agencies downgraded Ukraine's foreign currency ratings following the country's request for a two-year freeze on payments on international bonds totaling $20 billion, a move made by the government to protect the economy from a debt default. “Given the terms and conditions of the restructuring, and in line with our criteria, we view the transaction as distressed and tantamount to default,” S&P said.

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