US agency S&P Global has downgraded Ukraine’s credit rating to “selective default” (SD – selective default) due to the lack of coupon payments by Kiev, the organisation’s press service said.
Fitch Ratings earlier downgraded Ukraine’s long-term rating to C. It signifies an exceptionally high level of credit risk, the beginning of the default process and its inevitability.
S&P Global said in a statement that the Ukrainian government failed to make the coupon payment on the 2026 Eurobond on 1 August 2024, when the payment was due. According to the agency, the payment will not arrive within the grace period of ten business days stipulated in the contract.
“We downgraded our long-term and short-term foreign currency (FC) ratings on Ukraine to SD/SD (selective default) from CC <…> We also downgraded the 2026 Eurobond rating to D (default) from CC,” – specified in the report S&P Global.
We will remind, earlier Vladimir Putin allowed the creation of a sanitary zone on the territory of Ukraine. It can take place on the current Ukrainian territories, should be difficult to overcome for means of defeat, primarily Western-made.