S&P lowers rating on Ukraine long-term foreign currency

Fri Apr 10, 2015 12:05pm EDT
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April 10 (Reuters) - Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating on Ukraine to 'CC' from 'CCC-', saying it expected a default on the country's foreign currency debt a virtual certainty.

The ratings services said on Friday it expected to classify restructuring of Ukraine's foreign currency debt as tantamount to default. (bit.ly/1Jw6wUH)

The Ukrainian government intends to conclude debt restructuring talks with external commercial creditors by the end of May. (Reporting by Kanika Sikka in Bengaluru; Editing by Saumyadeb Chakrabarty)