Fitch downgrades Ukraine further into default zone ...News

The rating agency has lowered the country’s credit rating over its $20 billion debt US-based credit rating agency Fitch has warned of an imminent default in Ukraine, announcing in a statement on Wednesday that it had further downgraded Kiev’s credit rating.  The agency said the move from ‘CC’ to ‘C’ reflects its view that a default or default-like process for Ukraine has begun, after Kiev reached an agreement in principle with a group of foreign investors to restructure its $20 billion debt.  The Ukrainian government on Monday struck a preliminary deal with the bondholders’ committee on restructuring terms. The pr

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