S&P and Fitch downgrade Kiev’s foreign currency rating to default

Standard & Poor's downgrades the long-term foreign currency rating of Ukraine’s capital from "CC" to "D", the international rating agency said on Wednesday.
The long-term national currency rating was also lowered by one notch from "SD" [selective default] to "D", S&P said.

Fitch also lowered the long-term issuer default rating of Kiev from "C" to "D", the rating agency reported.

Fitch and S&P downgraded Kiev’s rating because of the missed payment on the city’s $250 mln Eurobonds and the subsequent activation of the cross-default clause on $300 mln Eurobonds.
 [tass.ru]
11/11/15
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