Ukraine Default Likely as Political Crisis Deepens, S&P Says - Bloomberg:
"Ukraine is at risk of default after a political crisis “deteriorated substantially,” according to Standard & Poor’s. Fighting between police and anti-government protesters have claimed at least 77 lives this week.
S&P cut Ukraine to CCC, eight levels below an investment rating, from CCC+ and kept its outlook negative, citing the increasing risk that President Viktor Yanukovych’s government will fail to service its debt.
“We now believe it is likely that Ukraine will default in the absence of significantly favorable changes in circumstances, which we do not anticipate,” S&P analysts said in a statement today."
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