KIEV, July 31 - Fitch Ratings has downgraded Naftogaz's Long-term foreign and local currency Issuer Default ratings (IDRs) to 'CC' from 'B-'.

According to a Fitch statement, both ratings remain on Rating Watch Negative (RWN).

Fitch simultaneously downgraded the senior unsecured rating on Naftogaz's $500 million eurobond to 'CC' from 'B' and maintained it on RWN. The Recovery Rating (RR) on the eurobond is 'RR4'.