S&P cuts Ukraine's rating on delay in next tranche of bailout

Ukraine could default on its debt obligations if the situation does not change in the next few months, S&P said on Friday.

S&P cuts Ukraine's rating on delay in next tranche of bailout

World Bulletin/News Desk

Standard & Poor's cut Ukraine's credit rating to "CCC-" with a negative outlook from "CCC", citing concerns over a delay in the release of the next tranche of bailout to the country and over its falling currency reserves.

The International Monetary Fund said it had productive talks with Ukraine officials this week, but the two parties failed to reach an agreement that would pave the way for Kiev to receive its next bailout tranche next month.

Ukraine could default on its debt obligations if the situation does not change in the next few months, S&P said on Friday.

Ukraine reached a bailout deal with IMF in April. The country has so far received a total of $4.6 billion in two tranches under the deal.

Güncelleme Tarihi: 20 Aralık 2014, 11:16
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