KIEV, Oct. 21 – The National Bank of Ukraine on Tuesday sent a letter to Fitch Ratings complaining that the recent downgrade action taken against the country had not been justified by facts.

“We sent our complaints to Fitch. We don’t understand how come they have an approach like that,” Anatoliy Shapovalov, the first deputy governor of the NBU, said. “I believe it was a purely political move to lower the rating. Economic indicators have been absolutely not taken into account.”