sandp-affirms-ukraines-rating-at-selective-default-after-restructuring

S&P affirms Ukraine's rating at 'selective default' after restructuring

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S&P Global has affirmed Ukraine's credit rating at 'selective default' after approving a $20 billion debt restructuring. The agency considers the restructuring “difficult” and predicts that financial pressure on the country will continue.

Rating agency S&P Global on Friday affirmed Ukraine's foreign credit rating at “selective default” after bondholders approved the country's plan to restructure more than $20 billion in debt. Reuters reports , UNN reports . 

Details

The debt restructuring provides Ukraine with an important breathing space that will help stabilize the budget amid a protracted conflict with Russia that is increasing defense spending. S&P views the restructuring as “difficult,” indicating that financial pressures on Ukraine will continue.

The agency also affirmed Ukraine's local currency rating at 'CCC+/C' with a stable outlook.

Global Firepower: Україна піднялася у рейтингу найсильніших армій06.01.23, 10:01 • [views_591915]

Lilia Podolyak

Economy

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