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S&P affirms Ukrainian Railways
Standard & Poor's said it affirmed its CCC long-term corporate credit rating on Ukrainian railway company the State Administration of Railways Transport of Ukraine (Ukrainian Railways). The outlook is negative.
At the same time, S&P affirmed the CCC issue rating on the loan participation notes issued by Shortline plc and on-lent to Ukrainian Railways.
The affirmation follows the downward revision of S&P's assessment of the likelihood of extraordinary government support for Ukrainian Railways to "high" from "very high."
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