Russian State Duma speaker warns Ukraine increasingly turning into terrorist stateRussian Politics & Diplomacy March 24, 11:06
France’s National Front leader baffled by Paris’ hostile stance towards RussiaWorld March 24, 10:41
Russian Paralympians prepare for PyeongChang 2018 despite suspensionSport March 24, 9:23
Terrorist gang eliminated in foiled attack on National Guard in ChechnyaWorld March 24, 9:10
Senior Pentagon official calls for information strategy on RussiaWorld March 24, 8:42
South Korea warns North Korea may hold new nuclear test by end of MarchWorld March 24, 7:20
Russian-US experiment to simulate outer space mission named SIRIUSScience & Space March 24, 6:20
Russian research agency selects 10 bids in ‘Flying Car’ contestScience & Space March 24, 5:41
Belarus opens case into plotting riots, 26 suspects detainedWorld March 24, 4:30
KIEV, September 25. /TASS/. Standard & Poor's international rating agency lowered its long-and short-term foreign currency sovereign credit ratings on Ukraine to "SD" (selective default) from "CC", the agency reported on Friday.
The rating action follows the Ukrainian government’s Sept. 23 invitation to commercial bondholders to participate in a series of debt buyback auctions, S&P said. "Ukraine’s invitation constitutes the launch of what we consider to be a distressed debt restructuring. We view an exchange offer as tantamount to default" as offer implies that "the investor will receive less value than the promise of the original securities"; and "the offer is distressed, rather than purely opportunistic," the report said.
On Tuesday, Ukraine’s cabinet of ministers announced the launch of state debt restructuring. According to a government decree, the country’s Finance Ministry exchanged debt securities to be restructured for new ones by December 1, 2015. "Starting from September 23, Ukraine is temporarily suspending payments on redemption and service of state debt and government-backed debt on enlisted debt liabilities," the decree said. On September 23, Ukraine had to repay euro bonds worth $500 mln.