KIEV, Aug. 10 – Fitch Ratings says it would not view a forced debt restructuring of Ukraine's state energy firm, OJSC Naftogaz ('CC'/Rating Watch Negative), as a sovereign default event, although the agency acknowledges there could be negative implications for investor sentiment towards the country.

"The Ukrainian government's repayment of its $500 million sovereign eurobond on August 5 indicates that its capacity and willingness to service sovereign debt remains in place for now, buttressed by [International Monetary Fund] financial assistance," said Andrew Colquhoun, a director in Fitch's Sovereigns Group.