02/21/2014
Ukraine close to deal to end violence; S&P downgrades country. S&P has cut Ukraine to CCC from CCC+ and kept the country's outlook at negative, saying that it is likely that the government will default. S&P's move has come after a week of violent anti-government protests has left almost 80 people dead. Russian-backed President Viktor Yanukovich has accepted an agreement to solve the crisis, with measures including a transitional government, a reduction of presidential powers, and fresh elections by the end of 2014. However, the pro-EU opposition wants changes to the deal.