Fitch cuts Ukraine

Fitch Ratings said it has downgraded Ukraine's long-term foreign currency issuer default rating to CCC from B- and affirmed the long-term local currency issuer default rating at B-.

The outlook on the local currency issuer default rating is negative.

The issue ratings on Ukraine's senior unsecured foreign and local currency bonds are also downgraded to CCC from B- and affirmed at B-, respectively, the agency said, noting that the country ceiling is downgraded to CCC from B- and the short-term foreign currency issuer default rating is downgraded to C from B.

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