S&P Global said that a “selective default” has begun in Ukraine due to a lack of payments to creditors.
Ukraine was supposed to pay Eurobond proceeds on August 1, but this did not happen, so “we have downgraded our long-term and short-term foreign currency ratings of Ukraine to SD/SD.” “We have also downgraded the 2026 Eurobond rating from CC to D (default),” the agency said in a statement.