LONDON, Dec. 7 – The major debt rating agencies have together lowered the boom on Ukraine, in a development that may make it harder and more expensive for the government to borrow and put a severe crimp on the operations of the country’s major banks.

In the latest development, Moody's Investors Service today lowered the standalone credit assessments, and downgraded the debt and deposits ratings, as well as National Scale Ratings of 11 banks and one leasing company in Ukraine. Negative outlooks have been maintained on all affected banks' ratings.