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Moody's Cuts Ukraine Credit Rating on Negative Forecast

Moody's Investors Service cut Ukraine's credit rating to its second-lowest level Tuesday, while warning that creditors faced deep losses in debt-restructuring negotiations with bondholders. A statement from the credit rating agency said default on repayment of $40 billion in aid from the International Monetary Fund was "virtually" certain, as Kyiv continues preliminary talks on restructuring the majority of its outstanding eurobonds. Ukraine, mired in a costly and...

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