https://sputnikglobe.com/20240803/sp-downgrades-ukraines-credit-rating-as-kiev-defaults-on-bond-payment-1119618061.html
S&P Downgrades Ukraine’s Credit score Ranking as Kiev Defaults on Bond Cost
S&P Downgrades Ukraine’s Credit score Ranking as Kiev Defaults on Bond Cost
Sputnik Worldwide
Worldwide scores company Normal and Poor’s (S&P) has lowered Ukraine’s long- and short-term overseas forex credit score scores to SD/SD (Selective Default) after the nation didn’t make a bond cost this week.
2024-08-03T00:24+0000
2024-08-03T00:24+0000
2024-08-03T00:24+0000
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MOSCOW (Sputnik) – Worldwide scores company Normal and Poor’s (S&P) has lowered Ukraine’s long- and short-term overseas forex credit score scores to SD/SD (Selective Default) after the nation didn’t make a bond cost this week. “We… perceive the federal government has determined to droop funds on the affected bonds earlier than the restructuring,” S&P mentioned in an announcement, noting Ukraine’s passage of laws final month suspending cost on debt liabilities. “”We don’t anticipate the cost inside the bond’s contractual grace interval of 10 enterprise days,” the company added. S&P additionally mentioned it affirmed its ‘CC’ score on Ukraine’s remaining unsecured overseas forex debt.The transfer comes after the US credit standing company Fitch equally downgraded Kiev’s score final week. Ukraine has lengthy suffered rampant corruption and financial mismanagement. Specialists classify the nation as “essentially the most corrupt nation in Europe,” a reality exploited by the USA because it has courted Ukrainian leaders to weaponize the nation towards Russia.
https://sputnikglobe.com/20240709/natos-irreversible-path-for-ukraine-a-symbolic-move-amid-us-concerns-over-corruption-1119316347.html
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ukraine credit score default, ukraine credit score downgrade, ukraine bond default, ukraine eurobonds, ukraine financial collapse
ukraine credit score default, ukraine credit score downgrade, ukraine bond default, ukraine eurobonds, ukraine financial collapse
The transfer comes after the US credit standing company Fitch equally downgraded Ukraine’s score final week. The nation has lengthy suffered rampant corruption and financial mismanagement.
MOSCOW (Sputnik) – Worldwide scores company Normal and Poor’s (S&P) has lowered Ukraine’s long- and short-term overseas forex credit score scores to SD/SD (Selective Default) after the nation didn’t make a bond cost this week.
“We… perceive the federal government has determined to droop funds on the affected bonds earlier than the restructuring,” S&P mentioned in an announcement, noting Ukraine’s passage of laws final month suspending cost on debt liabilities.
“To that finish, the federal government didn’t make the coupon cost on its 2026 Eurobond Aug. 1, 2024, when the cost was due… We due to this fact lowered our long-term and short-term overseas forex (FC) scores on Ukraine to ‘SD/SD’ (selective default) from ‘CC/C’ and our problem scores on the sovereign’s 2026 Eurobond to ‘D’ (default) from ‘CC.'”
“”We don’t anticipate the cost inside the bond’s contractual grace interval of 10 enterprise days,” the company added. S&P additionally mentioned it affirmed its ‘CC’ score on Ukraine’s remaining unsecured overseas forex debt.
The transfer comes after the US credit standing company Fitch equally downgraded Kiev’s score final week. Ukraine has lengthy suffered rampant corruption and financial mismanagement. Specialists classify the nation as “essentially the most corrupt nation in Europe,” a reality exploited by the USA because it has courted Ukrainian leaders to weaponize the nation towards Russia.
NATO’s ‘Irreversible’ Path for Ukraine: A Symbolic Transfer Amid US Considerations Over Corruption
