Standard & Poor's ratings agency has lowered Ukraine's long-term rating to 'CCC' saying the raging political crisis has put the government's ability to service its debt at risk and raised uncertainty over Russia providing promised aid.
"We now believe it is likely that Ukraine will default in the absence of significantly favourable changes in circumstances, which we do not anticipate," it said in a note. S&P's previous Ukraine rating was 'CCC+.'
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