Moody's cuts Ukraine rating to just above default
Moody's ratings firm
Washington - Arab Today
Ratings firm Moody's cut Ukraine's sovereign debt rating to one notch above default Tuesday, saying creditors will be forced to take deep losses in a debt restructuring.
"The key driver of the downgrade is the likelihood of external private creditors incurring substantial losses as a result of the government's plan to restructure the majority of its outstanding Eurobonds" and other debt, Moody's said.
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