Global rating agencies S&P and Fitch on Friday lowered Ukraine’s foreign currency ratings, saying they consider the country’s debt restructuring as distressed.
Fitch downgraded the country's long-term foreign currency to"RD" from"C", as it deems the deferral of debt payments as a completion of a distressed debt-exchange.Fitch downgraded the country's long-term foreign currency to"RD" from"C", as it deems the deferral of debt payments as a completion of a distressed debt-exchange.
Earlier this week, Ukraine’s overseas creditors backed the country’s request for a two-year freeze on payments on almost $20 billion in international bonds, according to a regulatory filing, allowing the war-ravaged country to avoid a messy debt default. Fitch downgraded the country’s long-term foreign currency to “RD” from “C”, as it deems the deferral of debt payments as a completion of a distressed debt-exchange.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple remains upbeat despite global electronics slumpSales of new iPhone models are likely to drive the company’s growth this year
Read more »
Rand at the mercy of broader global forcesThe rand has benefitted from dollar weakness in recent sessions as slower-than-expected US inflation data eased pressure on the Federal Reserve to aggressively raise interest rates.
Read more »
Apple remains upbeat despite global electronics slumpSales of new iPhone models are likely to drive the company’s growth this year
Read more »
Global stocks head for fourth straight week of gainsA slight easing of inflation readings drove global stocks higher and capped a rising dollar this week
Read more »
WATCH: Makhadzi's warm welcome back home after successful global tour | The CitizenMakhadzi arrived back home at OR Tambo International Airport this week and didn't expect to be greeted by adoring fans when she landed.
Read more »
Mariah Carey, Jonas Brothers and more to perform at Global Citizen New York concert | ChannelMetallica, Mariah Carey and the Jonas Brothers will be among the acts performing in New York's Central Park at this year's Global Citizen Festival.
Read more »