Worse than Greece: Fitch says Ukraine's default risk high — RT Business #EuroMaidan

Worse than Greece: Fitch says Ukraine's default risk high — RT Business:



"The worsening political and economic circumstances in Ukraine has prompted the Fitch Ratings agency to downgrade Ukrainian debt from B to a pre–default level CCC. This is lower than Greece, and Fitch warns of future financial instability.



“Intensification of political and economic stress is such that default on government debt becomes probable,” Fitch said in an e-mail.



On the brink of default, the Ukrainian economy has taken a further beating as protests drag on in the capital Kiev. Foreign debt is $140 billion, nearly 80 percent of the country’s gross domestic product."



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