Standard & Poor's declares Ukraine in 'selective default'

GMT 17:14 2015 Friday ,25 September

Arab Today, arab today Standard & Poor's declares Ukraine in 'selective default'

Standard & Poor's
Kiev - Arab Today

Credit rating agency Standard & Poor's on Friday declared Ukraine's sovereign debt to be in "selective default" because of the war-torn nation's debt restructuring negotiations.

Cash-strapped Ukraine has been struggling with its debt since entering a deep economic depression after war broke out with pro-Russian insurgents in its eastern industrial heartland early last year.

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