International rating agency ‘Fitch’ downgraded the long-term foreign currency rating of the State Railways Administration ‘Ukrzaliznytsya’ (UZ) from CCC to CC.

The downgrade was prompted by the downgrade of Ukraine from CCC to CC.

At the same time, the agency affirmed the long-term rating in national currency at the level of CCC and short-term foreign currency rating at C.

In accordance with the scale of ‘Fitch’, the rating CC indicates a high probability of default.