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Debt restructuring deal tantamount to default, 2 ratings agencies say
Journal Staff Report

KIEV, Aug. 28 - The debt restructuring deal Ukraine has struck with a group of creditors was seen Friday as tantamount to a default of payment, according to ratings agencies Fitch and Standard & Poor's, AFP reported.

Fitch lowered Ukraine's rating of long-term public debt from "CC" to "C," after the deal was announced Thursday because it led to major losses for the bondholders.




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Currencies (in hryvnias)
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USD 28.50 28.47
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