S&P lower Ukraine rating to CCC- on increased default risk

People shop in a market as snow falls on the eastern Ukrainian city of Donetsk on November 30, 2014Standard & Poors lowered its credit rating for Ukraine on Friday to CCC- with a negative outlook, warning that dangerously low foreign currency reserves could prompt a default within months. “The negative outlook reflects our view of the increasing risk that, without additional financial support, Ukraine may default on its obligations,” the credit rating agency said. Ukraine is embroiled in a war with Russian-backed separatists in its main industrial region and earlier lost control to Russia of the strategic Crimea province. S&P said a delay this year in IMF aid, couple with “significantly reduced foreign currency official reserves, increases the risk that the Ukrainian government might not be able to meet its obligations.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
#Pence pushes for email privacy - POLITICO https://t.co/2Mc1PycrM1 #privacy https://t.co/ENnWuDjz7i - 3 weeks ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *