Ukraine's long term foreign currency; Issuer Default Rating (IDR) going from CCC to CC.
On Friday (13/2/15), Fitch Rating Agency decreased Ukraine's long term debt from CCC to CC which is a result of probable default as well as degrading credit. Is this a sign that Ukraine may face a financial crisis? or if so, will it be temporary?
Statement By Fitch Rating Agency (13/2/15) -
"The downgrade of Ukraine's long-term foreign currency IDR [Issuer Default Rating] to 'CC' … indicates that a default of some kind appears probable"
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