Standard & Poor’s Downgrades Ukraine, Predicts Default
The international rating agency Standard & Poor's downgraded Ukraine's investment rating as a result of the recent wave of violence and political instability in the country.
S&P has taken down Ukraine's rating from CCC+ to CCC, with a negative outlook for the ability of the government to service its debt.
"We now believe it is likely that Ukraine will default in the absence of significantly favorable changes in circumstances, which we do not anticipate", an analyst of S&P said.
Since the anti-government protests broke out in November, Ukraine agreed a USD 15 B loan from Russia in selling government bonds. This deal served to further escalate the discontent of the public and led to waves of violence.
In the last 3 days, over 70 people were killed in the capital Kiev.
- » Bulgaria's Debt Grows by EUR 2.1238 in 2016
- » Local Taxes May Be Paid to Sofia Municipality As Of February 1
- » State Debt Decreases in EU, Bulgaria in Q3 2016
- » Bulgaria Posts 46.4% Drop in FDI in Jan-Nov 2016
- » BSE: Six New Companies Join SEE Link Indices
- » Airplane Tickets Prices Up by 28.6% in December