KIEV, April 8 - Rating and Investment Information, Inc. (R&I, Japan) has downgraded Ukraine's Foreign Currency Issuer Rating to 'CC' from 'CCC', Long-term Issue Rating to 'CC' from 'CCC.'

"Since May 2014, when R&I downgraded the Foreign Currency Issuer Rating for Ukraine to CCC, R&I has kept a close eye on whether the Ukrainian government makes progress in rebuilding the country's economy and fiscal position and restoring its debt repayment capacity," according to the report.