Fitch downgraded the country's long-term foreign currency to"RD" from"C", as it deems the deferral of debt payments as a completion of a distressed debt-exchange.Fitch downgraded the country's long-term foreign currency to"RD" from"C", as it deems the deferral of debt payments as a completion of a distressed debt-exchange.
Earlier this week, Ukraine’s overseas creditors backed the country’s request for a two-year freeze on payments on almost $20 billion in international bonds, according to a regulatory filing, allowing the war-ravaged country to avoid a messy debt default. Fitch downgraded the country’s long-term foreign currency to “RD” from “C”, as it deems the deferral of debt payments as a completion of a distressed debt-exchange.
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