KIEV (AFP) – The debt restructuring deal Ukraine has struck with a group of creditors was seen Friday as tantamount to a default of payment, according to ratings agencies Fitch and Standard & Poors.Fitch lowered Ukraines rating of long-term public debt from CC to C, after the deal was announced Thursday because it led to major losses for the bondholders.Fitch considers that this represents a Distressed Debt Exchange (DDE) under its criteria that results in material losses to bondholders and is being conducted in order to avoid default, the agency said in a statement released late Thursday.At the same time, …read more
Source: Dunya TV
