Ukraine Rating Cut by Moody’s as IMF Agrees to Delay Trip
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Ukraine’s credit rating was lowered by Moody’s Investors Service as the International Monetary Fund delayed a trip for talks on a third bailout in five years at the former Soviet republic’s request.
Moody’s last night cut its rating one step to B3, six levels below investment grade, citing dim economic prospects. While Parliament approved the 2013 budget today, the Washington-based IMF will visit the capital, Kiev, in the second half of January, instead of tomorrow as planned, allowing a new cabinet to participate after Prime Minister Mykola Azarov resigned.