FRANKFURT (Dow Jones) — Rating agency Fitch has downgraded Ukraine’s country rating to Restrictive Default (RD) of C. At Fitch, the RD rating marks the last stage before complete payment default. Fitch usually does not give an outlook for credit ratings of CCC+ or worse.
After the previous review on July 22, Ukraine’s rating would normally have been reviewed for six months, the statement said. However, Fitch analysts have brought forward the review after international bondholders recently granted Ukraine a 24-month grace period.
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DJG/cln
(END) Dow Jones Newswires
August 13, 2022 08:03 ET (12:03 GMT)