S&P Global Ratings, an international credit rating agency, has lowered its long-term issuer credit rating on the Ukrainian Railways joint-stock company (Ukrzaliznytsia) from "CCC" to "CCC-" in both local and foreign currencies.

The CFTS portal reported this, citing the Interfax Ukraine news agency.

According to the information that was published on S&P’s website on Wednesday, the rating agency also removed all its ratings on Ukrzaliznytsia from CreditWatch with negative implications, where it had placed them on 1 June.

Fitch Ratings, another international credit rating agency, did the same a little over a week earlier.