Loading ...April 10 (Reuters) – Standard & Poor’s Ratings Services lowered its long-term foreign currency sovereign credit rating on Ukraine to ‘CC’ from ‘CCC-‘, saying it expected a default on the country’s foreign currency debt a virtual certainty.
The ratings services said on Friday it expected to classify restructuring of Ukraine’s foreign currency debt as tantamount to default.
The Ukrainian government intends to conclude debt restructuring talks with external commercial creditors by the end of May.