S&P decreased the rating of the Crimea to default
The international rating agency Standard & Poor's decreased the long-term credit rating of the Crimea to default D, against the previous index of CCC, and the rating of the Crimea at the national scale – from uaB- to D. But then the agency withdrew the rating at the request of the Crimean government.
The missed payment by the Crimean bond coupon at the sum of 12 mln USD became the reason of the rating fall.
According to the announcement, the rating reduction means that to date the Crimea can not pay its debt obligations.
Previously, payments on the debt obligations were made through the fund headed by the Ministry of Finance of Ukraine.
According to the Administration of the Crimea, the region has the funds for on time repayments by coupon, and provided all required documents to the Government of Ukraine in advance. At the same time, the payments were not made when required.
You should be authorized to post comment
Russia to expand the list of countries subject to economic counter sanctions
Russia: proposals to increase the ceiling value in calculating of the export duties on wheat
Russia harvested over 40 mln tonnes of grains – Ministry of Agriculture
Russia to start grain purchasing interventions since August 11
Russia: winter grain planted areas to increase by 0.5 mln ha – A.Tkachev
Russia: Prime Minister charged the Ministry of Agriculture to monitor the current limitations on grain exports