Ukraine Rating Cut by Fitch as East Conflict Hurts Growth - Bloomberg

Ukraine Rating Cut by Fitch as East Conflict Hurts Growth - Bloomberg:



"Ukraine’s credit rating was cut by Fitch Ratings, which cited a worsening economic outlook as the military conflict with pro-Russian separatists in the nation’s east curbs business activity.



The company lowered its assessment to CCC from B-, which signals a high risk of default. Only Argentina, which failed to make an interest payment last month, is rated lower than Ukraine among 104 countries Fitch tracks.



While the government has recaptured territory from the rebels, conflict may persist or intensify, delaying economic revival and damaging productive assets, Fitch wrote in a statement yesterday. Ukraine and its allies say the war is being fueled by Russian support for the insurgents, which President Vladimir Putin has denied."



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