logo_headerSunday, September 25, 2022

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

This item is part of our running news digest

August 13, 2022 11:00 pmby The Kyiv Independent news desk

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.

externalGo to the source of this newsSEE OUR NEWS DIGEST
The Kyiv Independent news desk
Author:  The Kyiv Independent news desk
Independent journalism
for an independent Ukraine
Independence is an expensive currency. Both Ukraine and its journalists are paying a high price to preserve its independence. Support Ukraine's trusted journalism in its darkest hour.