“The international rating agency Standard&Poor’s lowered the rating of Ukrzaliznytsia to “CC” (“negative” forecast) from “CCC+” in connection with the company’s proposal to postpone payments for two Eurobond issues for a year from January this year.”, — write: epravda.com.ua
The international rating agency Standard&Poor’s lowered the rating of Ukrzaliznytsia to “CC” (“negative” forecast) from “CCC+” in connection with the company’s proposal to postpone payments for two Eurobond issues for a year from January this year. The Interfax-Ukraine agency writes about this with reference to information on the S&P website. “We see a significant weakening of UZ’s ability to repay the debt and believe that default on UZ’s debt is practically determined according to our methodology. As a result, we lowered the long-term credit rating of UZ’s issuer,” S&P quoted the agency as saying. It is clarified that the negative forecast reflects S&P’s opinion that UZ will most likely implement its debt restructuring plans within the next few weeks, which S&P considers to be tantamount to default. and asked their owners to postpone the payment for another year.