1. Definition of Default:
• Ukraine fails to make a scheduled payment on its sovereign debt (principal or interest) by the due date.
• A restructuring of debt occurs that includes a haircut or rescheduling due to inability to pay.
• A credit rating agency (e.g., S&P, Moody’s, Fitch) declares Ukraine to be in default.
2. Time Frame:
• The criteria must be met between January 1, 2024, and December 31, 2024.
3. Exclusions:
• Temporary delays due to technical issues or administrative errors, provided the payment is made within a grace period defined in the debt agreement.
4. Sources for Verification:
• Official statements from the Ukrainian government.
• Reports from major credit rating agencies (S&P, Moody’s, Fitch).
• Verified news reports from reputable financial news outlets (e.g., Bloomberg, Reuters).
5. Outcome:
• If any of the above criteria are met within the specified time frame, it will be considered that Ukraine has defaulted on its debt in 2024.
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Fitch downgraded Ukraine's credit rating to "Restricted Default" https://www.reuters.com/markets/europe/fitch-cuts-ukraines-rating-restricted-default-2024-08-13/
@MikeKa does this resolve YES yet? If not, what else would resolve the question?
S&P Global cut Ukraine's credit rating to 'selective' default on Friday
Yes, if S&P or Fitch or Moodys declares it as a default in their ratings.