Agency S&P downgraded the rating of Kiev for failure to pay debt on bonds, reports “Correspondent”. Moreover, delayed payments, S&P also do not exclude the default of Kiev, the publication adds.
The international rating Agency S&P downgraded the rating of Kiev from CCC+” to “SS”, reports “Correspondent”.
“Kiev has decided to extend the maturity of domestic bonds in 2016 for next year… So we downgraded the city from “CCC” to “CC” that reflects our view of the extremely high probability of default of Kiev”, — said the Agency S&P.
As writes the Ukrainian edition, the Agency believes that the non-payment of debt on bonds in time is almost inevitable. If Kiev does not fulfill the next payment on the bonds in December 2016, the rating will be downgraded to “D”. If debts are paid on time and in full, S&P could again raise the rating of Kiev, total “Correspondent”.
