Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Reports of two IOF soldiers killed in military vehicle explosion in Rafah.
Israeli media: Israeli soldier killed, another wounded in explosion in Rafah.
Medical sources in West Bank: Palestinian killed by occupation fire; wounded and left to bleed while ambulance crews were barred from reaching him in Al-Ain refugee camp, west of Nablus.
Hamas: Facts on ground reveal opposite of claims, as occupation authorities were ones who armed criminal gangs that practiced murder and kidnapping against people of Gaza.
Hamas: US Department of State's false claims fully in line with Israeli disinformation.
Hamas responds to US claims in statement, fully rejects US claims of "imminent attack" or violation of ceasefire.
Field sources in West Bank: Israeli bulldozers vandalize Palestinian lands northwest of Nablus.
Field sources in West Bank: Settlers attack Palestinian farmers harvesting olives in Nablus.
Field sources in West Bank: Armed Israeli settlers torch Palestinian vehicles near olive groves in Turmus Ayya north of Ramallah.
Israeli PM Office: Netanyahu has ordered that the Rafah crossing will not open until further notice.

Fitch downgrades Ukraine’s rating to C

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Jul 2022 08:50
2 Min Read

The Ukrainian government formally launched a consent solicitation to postpone external debt repayments for 24 months on July 20.

  • x
  • Fitch downgrades Ukraine’s rating to C.
    Fitch downgrades Ukraine’s rating to C.

Fitch Ratings has downgraded Ukraine's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to 'C' from 'CCC'.

The Ukrainian government formally launched a consent solicitation to postpone external debt repayments for 24 months on July 20. Fitch described the transaction as the start of a distressed debt exchange (DDE) process, which is consistent with ratings of 'C' for both the LTFC IDR and the affected securities.

Moreover, Fitch analysts believe that a broader restructuring of the government's commercial debt will be necessary, though the timing is uncertain. As a result of the war with Russia, Ukraine's macro-financial position, public finances, and external finances have been severely stressed.

Read next: Ukraine expects GDP to fall by 40% in 2022

Related News

France to respond to 'Russian airspace violations', Macron says

European officials fear new Russian offensive in Donetsk

The Ukrainian Cabinet of Ministers decided on July 20 to seek a two-day delay in external debt payments. In order for the agreement to take effect, the Kiev government must reach new terms with the debt holders. Ukraine's international creditors, which include the United Kingdom, Canada, France, Germany, Japan, and the United States, supported Kiev's request to postpone debt repayments until the end of 2023. The group also urged Ukraine's private-sector bondholders to follow suit.

Ukraine faces a $1.4 billion redemption and interest payments on September 1, according to Bloomberg's estimates.

Ukraine crisis to affect Eurozone 

The Ukraine crisis and the West's sanctions on Russia will pose fiscal and growth challenges to the sovereign credit status of eurozone states that would not be unlike the COVID-19 pandemic, Fitch Ratings said in March. 

The credit rating agency said that the impact and design of the policy responses to the crisis will be important in assessing the sovereign credit impact. "Like the pandemic, the war is an external shock that will be felt across the bloc and its impact will vary, for example with dependency on Russian gas, or trade linkages." 

One particular sting for eurozone states will come from the increased imports of liquefied natural gas, in addition to other infrastructure, to replace Russian energy supplies, which these states are planning to phase out over the coming five years.

  • Ukraine crisis
  • Ukraine
  • Fitch
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Iraqi religious leader Sheikh Jawad al-Khalisi on Al Mayadeen Plus, October 18, 2025 (Screengrab)
Politics

Most powerful decision-maker in Iraq is US: Sheikh Al-Khalisi

Flags of Iran, Russia, and China (IRNA)
Politics

Iran, Russia, China confirm: Iran nuclear issue out of UNSC

Member of the Loyalty to the Resistance bloc Ali Fayyad speaks to Al Mayadeen, October 18, 2025 (Screengrab)
Politics

Hezbollah, allies will reject direct talks with 'Israel': MP Fayyad

The bodies of killed Palestinians held by "Israel" during the war are downloaded from Red Cross vehicles after their release, at the Nasser Hospital in Khan Younis, southern Gaza Strip, Oct. 15, 2025. (AP)
Politics

From rubble to graveyards, Gaza continues recovering its martyrs

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS