WASHINGTON (AFP) – Ratings firm Moodys cut Ukraines sovereign debt rating to one notch above default Tuesday, saying creditors will be forced to take deep losses in a debt restructuring.The key driver of the downgrade is the likelihood of external private creditors incurring substantial losses as a result of the governments plan to restructure the majority of its outstanding Eurobonds and other debt, Moodys Investors Service said.Ukraines long-term issuer and government debt ratings were downgraded to Ca from Caa3, and the outlook remained negative, the firm said.Also included in the governments debt restructuring plan is the external debt of state-guaranteed …read more
Source: Dunya TV
