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S&P downgrades Ukraine's credit rating as default becomes ‘virtual certainty.'

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S&P Global Ratings downgraded Ukraine from CCC+ to CC, meaning a negative outlook, after officials asked foreign creditors for permission to delay payments on its external debt. “We believe it is virtually certain that the Ukrainian government will stop payments on at least some foreign debt as currently documented,” S&P said on July 29.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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The project would involve Romanian investment in a local factory, likely in Brasov, where Ukrainian and Romanian teams would collaborate on manufacturing drones based on Ukrainian designs developed through wartime experience.

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