KIEV, March 15 - Standard & Poor's on Thursday lowered its outlook on Ukraine’s credit rating to negative from stable, reflecting significant fiscal and foreign debt refinancing risks.

It also reaffirmed Ukraine’s B+ foreign-currency debt assessment.

The move is a major setback for the government and may hinder its plans of selling Eurobonds later this year, especially as Ukraine has failed to win resumption of lending from the International Monetary Fund.