S&P downgrades Ukraine credit rating by one notch to CC
S&P
Paris - Arab Today
Ratings firm Standard & Poor's cut Ukraine's credit rating by one notch Friday due to its intentions to restructure its foreign debt.
"We would classify... restructuring of Ukraine's foreign currency debt as tantamount to default," the agency said. "We are lowering our long-term foreign currency ratings on Ukraine to CC from CCC-" with the outlook negative.
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