Moody's downgraded Ukraine's sovereign credit rating

The rating agency Moody’s downgraded Ukraine’s long-term credit rating from Caa2 to Caa3 and changed the outlook to negative.

This is stated in the press release of the agency. As epravda informs.

The downgrade is due to increased risks to servicing Ukraine’s public debt as a result of Russia’s invasion, as well as longer than Moody’s predicted duration of active hostilities. All these factors increase the likelihood of debt restructuring, the agency said.