Fitch upgraded Ukraine’s long-term foreign currency default rating from ‘RD’ to ‘CC’. This has been reported DEA News”.
Fitch Ratings upgraded Ukraine’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’.
According to the source, this currently means that the probability of the issuer defaulting on its debt obligations remains high.
Previously reportedS&P and Fitch consider Ukraine’s agreement to defer payments on public debt a default. Ukraine’s long-term and short-term ratings were downgraded to selective default and limited default, respectively. At the same time, the Eurobond issuance rating was downgraded.
S&P and Fitch said they were in default as Ukrainian authorities agreed to delay their Eurobond payments for 24 months.
Source: Gazeta
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