S&P downgrades Ukraine

Friday, February 21, 2014

S&P cuts Ukraine’s credit note from CCC plus to CCC.

S&P cuts Ukraine’s credit note from CCC plus to CCC.

ANKARA - The sovereign rating of Ukraine was downgraded by S&P today, from CCC plus to CCC, leaving the country’s outlook negative with the prediction of a government default.

Violent anti-government protests have left 75 people dead and prompted international organizations, such as the EU to issue sanctions.

Regarding the deteriorating political situation, S&P says it “puts the government`s capability to meet its debt service at increasing risk."

The EU has been trying to broker a solution between the two sides. Protests started last year when a government decision to withdraw from a deal with EU to align more with Moscow sparked the conflict.

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