LONDON, Dec. 5 – Standard & Poor’s may cut Ukraine's 'B-' credit rating "if there were to be a further increase in tension or an escalation in violence," S&P analyst Trevor Cullinan told the Bloomberg agency.

"There's still a short period when Ukraine can potentially raise funds, but the longer they leave it, the more likely that we will have to lower the ratings," Cullinan said.

The main factor for S&P will be Ukraine's retaining or losing the ability to raise funds.

Cullinan said that the current events have been already taken into account in the low rating of Ukraine.