Tymoshenko’s Fate Looms as Ukraine CDS Worst: East Europe Credit - Businessweek:
"Ukraine, eastern Europe’s least-creditworthy borrower, faces $15.3 billion of debt payments in the next two years as it weighs the fate of a jailed ex-prime minister and whether to fix its future with the European Union.
The cost to insure Ukraine’s dollar debt against non-payment for five years with credit-default swaps rose 15 basis points to 966 at 12:41 p.m. in Kiev. The yield on Ukraine’s April 2023 dollar notes rose to 9.63 percent, compared with 7.40 percent on similar-maturity debt from Egypt, both carrying the same B- junk rating at Standard & Poor’s.
Ukraine must decide whether to release ex-Premier Yulia Tymoshenko for medical care abroad by an EU summit on Nov. 28-29, a condition to sign a free-trade pact with the 28-member bloc. Pressure is also building because the nation, whose currency reserves have fallen by a quarter in the last year, is locked out of global bond markets, according to Fitch Ratings."
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