Skip to content
Subscriber Only

Ukraine CDS Jump to Three-Year High After Moody’s Downgrade

The cost of insuring Ukrainian debt against default surged to a three-year high after Moody’s Investors Service cut the country’s credit rating deeper into junk last week, citing “very high default risk.”

The cost of Ukrainian credit-default swaps jumped for a third day, increasing 103 basis points to 1,041 at 5:30 p.m. in Kiev, the highest since January 2010, according to data compiled by Bloomberg. The yield on the country’s dollar bonds due in 2023 rose to a one-week high of 10.06 percent today.