KIEV, April 20 - Standard & Poor's Ratings Services has lowered its long-term foreign and local currency issuer credit ratings on Ukraine's capital city, Kiev, to 'CC' from 'CCC-'.

The outlook is negative, S&P said.

The rating action on the foreign currency rating reflects the central government's announcement that it will restructure the foreign currency debt, including Kiev's eurobonds, worth $550 million. Under the rating' agency's criteria, S&P says it would expect to classify this restructuring as tantamount to default.