KYIV, Feb 13 – Moody's has downgraded the government of Ukraine's foreign- and domestic-currency long-term issuer ratings and foreign-currency senior unsecured debt ratings to Ca from Caa3 and changed the outlook to stable from negative, the agency said on its website.

"The downgrade of the ratings to Ca is driven by the effects of the war with Russia that are likely to pose long-lasting challenges to Ukraine's economy and public finances. These challenges increase risks to government debt sustainability, making a debt restructuring with significant losses for private-sector creditors very likely," the report says.