Fitch knows of no Ukraine sovereign default

16:55, 20 November 2009
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Ratings agency Fitch...

Ratings agency Fitch said on Friday it was not aware of any Ukrainian default on its sovereign debt or any debt with a sovereign guarantee, according to Reuters.

European stocks and currencies were hit on Friday by a wave of speculation about the risk of Ukrainian default on sovereign and sovereign-guaranteed debt, even though analysts said there was no fresh development to trigger the sudden fright.

"The sovereign has not defaulted on its debts, nor are we aware of a default on anything with a sovereign guarantee," head of Fitch emerging Europe sovereigns Ed Parker told Reuters.

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