S&P rating agency lowered its long-term foreign currency credit rating of Ukraine to ССС- from ССС, the outlook remains negative. It was reported by TASS with reference to the data of the agency.
The agency also downgraded the country's rating on the «uaB+» national scale. The ratings are constrained by the Ukrainian government getting under threat of default due to the fact that the IMF delayed their aid tranche to the country.
The long-term national currency rating of Ukraine was revised down to ССС+ from B-, the outlook — to negative from stable.
President of the European Commission Jean-Claude Juncker said on December 18, that the EU has no budgetary remains to support Ukraine.
Kiev already asked the EU to start the third program of €2 billion Macro-Financial Assistance. European Commissioner Johannes Yahn noticed on December 15 that Brussels is ready to render assistance to Ukraine but in return of “the concrete results of reforms."
CCC rating refers to the speculative ones. It means obligations may be vulnerable to nonpayment at the moment and depend on the financial and economic conditions. An issuer will likely not be able to repay the debt when financial or economic problems begin.
