The rating outlook is negative
International rating agency Fitch Ratings downgraded the long term credit rating of Ukraine from B- to CCC. Index B- points to significant lack of creditworthiness of the country, while the value "C" indicates the possibility of default.
Now Ukraine's rating on long-term debt in foreign currency is separated from default in only one position. The same rating was awarded to Jamaica and Gambia. Local currency still remains at the same level B- with a negative outlook. Fitch ratings do not deny that the rating may change at any time.
Analysts explain the downgrade with unstable political situation and deteriorating access to finance.
