LONDON, October 19. International rating Agency Standard & Poor’s upgraded long-term Issuer default ratings of Ukraine in foreign currency to “b-/B” C “SD/D”, in the national currency to “B-/B ‘from’ CCC+/C”.
This is stated in the message of Agency.
September 25, S&P downgraded Ukraine’s rating to selective default “SD” from “CC”. In a press release it was noted that the main reason was the non-payment of the next coupon in the amount of $500 million, which was scheduled for September 23.
The day before the Ukrainian government decided to suspend all payments on its foreign debt in the framework of the agreement reached with creditors on the restructuring. In accordance with this decision, before 1 December of the current year the Ukrainian government should carry out the exchange of old bonds for new ones, taking into account the write-off 20% debt and prolongation of terms of return of the remaining portion until 2019.