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The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid//File Photo
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Feb 25 (Reuters) – Rating agency S&P said on Friday it lowered Ukraine’s long-term foreign and local currency sovereign credit ratings to ‘B-‘ from ‘B’, citing risks to country’s economic growth and financial stability from the Russian invasion.
S&P said it could lower the ratings further should the uncertainty posed by the crisis persist and lead to a drain on Ukraine’s external liquidity, its financial system or the government’s administrative capacity.
Russia’s military attack on the country has added significant downside risks to Ukraine’s economic outlook, and disruptions in its governance might put commercial debt servicing at risk, the rating agency said. read more
The negative economic effects from the conflict are difficult to quantify at this point, but will weigh on Ukraine’s creditworthiness, S&P added.
S&P’s move follows that of Fitch rating agency, which earlier cut Ukraine’s sovereign rating by three notches, pushing it deeper into junk territory, while Moody’s has put its rating on review for a downgrade. read more
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Reporting by Bhargav Acharya in Bengaluru; Editing by Sandra Maler and Sam Holmes
Our Standards: The Thomson Reuters Trust Principles.
The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13, 2018. REUTERS/Brendan McDermid//File PhotoRegister now for FREE unlimited access to Reuters.comFeb 25 (Reuters) – Rating agency S&P said on Friday it lowered Ukraine’s long-term foreign and local currency sovereign credit ratings to ‘B-‘ from ‘B’, citing risks to country’s economic growth and financial stability from the Russian invasion.S&P said it could lower the ratings further should the uncertainty posed by the crisis persist and lead to a drain on Ukraine’s external liquidity, its financial system or the government’s administrative capacity.Russia’s military attack on the country has added significant downside risks to Ukraine’s economic outlook, and disruptions in its governance might put commercial debt servicing at risk, the rating agency said. read more The negative economic effects from the conflict are difficult to quantify at this point, but will weigh on Ukraine’s creditworthiness, S&P added.S&P’s move follows that of Fitch rating agency, which earlier cut Ukraine’s sovereign rating by three notches, pushing it deeper into junk territory, while Moody’s has put its rating on review for a downgrade. read more Register now for FREE unlimited access to Reuters.comReporting by Bhargav Acharya in Bengaluru; Editing by Sandra Maler and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.