On April 17, the international rating agency Standard & Poor's (S&P) lowered the long-term credit rating of Kyiv from ССС to СС, with a negative outlook, having affirmed the rating of Dnipropetrovsk to be ССС and uаССС-, with a negative outlook, RBK-Ukraine (РБК-Україна) reports with reference to the agency.
As has been reported, the ratings of Kyiv on foreign currency liabilities were downgraded after the government of Ukraine announced about intention to restructure its debt, including eurobonds worth 550 UAH million held by Kyiv.
“In connection with that, we think that Kyiv’s default due to foreign currency liabilities outstanding is virtually inevitable”, - the agency’s message says.
Meantime, the long-term credit ratings of Dnipropetrovsk were affirmed to stand at CCC, and uaCCC- according to the national scoring system.
"Despite the downward slopping of Ukraine's sovereign ratings on April 10, 2015, we confirm the ratings of Dnipropetrovsk, because the city has no debt", - the S & P noted.
