Ukrainian Railways predicted imminent default
The international rating agency Standard & Poor's has lowered the long-term rating of the State Administration of Railway Transport of Ukraine (Ukrzaliznytsia) for foreign currency obligations from CCC- to CC, that is, to a state close to default, the report said. agencies.
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This assessment is related to Ukraine’s actions to restructure government and government-backed debts. including Eurobonds issued by the railway operator in the amount of $0,5 billion. S&P sees this as grounds for default. In general, the outlook for this rating is negative, S&P emphasizes.
Let us remind you that the Minister of Finance of Ukraine, American Natalya Yaresko Ann, is holding intensive negotiations on deferring the payment of debts to international creditors, since without restructuring it is impossible to obtain a new tranche of a loan from the IMF. As PolitNavigator wrote, one of the creditors is already refusing debt restructuring country.
Previously, Standard & Poor's, for a similar reason, lowered the long-term credit ratings of Ukraine and Of Kiev in foreign currency to CC from the level of CCC- with a negative outlook.
In general, Ukraine must, according to Arseniy Yatsenyuk, restructure part of its external debt in the amount of $23 billion.
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