S&P cuts Ukraine’s credit rating, assigns negative outlook on conflict fallout
(Reuters) – International scores company S&P on Friday minimize Ukraine’s sovereign score to ‘CCC+/C’ from ‘B-/B’, citing a bigger fallout from Russia’s army assault on the nation.
“Substantial injury to Ukraine’s economic system and tax-generation capability has made authorities debt fee extra depending on worldwide monetary help,” the company stated in a press release.The scores company stated it anticipated Ukraine’s actual gross home product to contract by 40% if the battle persists in to second half of 2022.
It additionally assigned a destructive outlook, saying dangers from the army battle may undermine the federal government’s skill to fulfill its debt obligations.
(Reporting by Bhanvi Satija in Bengaluru; Enhancing by Arun Koyyur)
