It's Official: Ukraine has DEFAULTED on its Sovereign Debt

S&P announced Ukraine's default on GDP warrants

▪️International rating agency S&P Global Ratings has officially announced a default on Ukrainian securities linked to GDP.

▪️Their rating has been lowered to default; the agency does not believe that Ukraine will pay off these securities in the next decade.

➖"Ukraine missed a payment of $0.67 billion on its GDP-linked securities, which was due on June 2, 2025. Moreover, we do not expect the payment to be made within the grace period for the securities, which is stipulated by the contract and is 10 business days, given the government's moratorium on payments on these bonds," the statement said.

https://t.me/seemorerocks/88046

Says Hal Turner

S&P has announced Ukraine's default on GDP warrants.

International rating agency S&P Global has downgraded the rating of Ukraine's GDP-linked bond issue from "CC" to "D" (default).

The Credit Default Swaps must now kick-in. This is going to be like knocking over the first Domino. Others will fall now, too.

Who? How many? How much money? None of us know yet.

But with today's public declaration by a ratings agency that Ukraine is in DEFAULT, nothing will be able to stop what comes next.