This ensued after the Ukraine’s sovereign credit rating was downgraded
The international rating agency Standard and Poor’s lowered the credit rating of major Ukrainian cities and regions that is evidence of deteriorating creditworthiness. Kyiv, Lviv, Dnipropetrovsk, Ivano-Frankivsk and AR Crimea face the challenge of fulfilling their debt liabilities.
S&P dropped the credit ratings of the Ukrainian cities and AR Crimea by one notch – from «CCC+» to «CCC». Growth forecast is «negative». S&P says creditworthiness of cities can worsen soon.
On Friday, February 21, the agency downgraded the Ukraine’s rating to pre default level «ССС» due to ongoing political uncertainties in the country. S&P has reviewed the Ukraine’s credit rating for the fourth time over the past 15 months.
