Ukrainian bondholders want to establish a joint committee of creditors ahead of talks with Kiev on restructuring $20 billion of debt ahead of International Monetary Fund (IMF) conferences in April. The agency writes about this Reutersby quoting sources.
The publication notes that it is important for Ukraine to achieve debt restructuring before August, when the two-year payment freeze expires.
Journalists learned that not only Ukrainian officials were involved in the formation of the committee, but also the American law firm Weil, which in 2015 advised creditors on the restructuring of the country’s debts.
The agency writes that there is currently no understanding of how the restructuring will occur, as the prospects for the Ukrainian economy remain unclear.
Before this, S&P Global Ratings, an international rating agency that conducts analytical research on financial markets, downloaded Ukraine’s long-term foreign currency credit rating was changed from “CCC” to “CC” and its outlook was changed to negative.
Previously Moody’s downloaded Ukraine’s rating went up to “Ca”.