S&P says Ukraine "likely to default".

S and P says Ukraine "likely to default"(RT).

S and P has cut Ukraine's rating one notch deeper into junk status, as the political instability grows and the number of dead has climbed to 80. It says the government has little chance to service its debt and further help from Russia is uncertain.

Standard and Poors' reduced Ukraine’s rating from CCC to CCC-plus with a negative outlook.

"Ukraine will default in the absence of significantly favourable changes in circumstances," which it doesn't anticipate, the Financial Times cites S&P.

“The clashes between protesters and security forces that began on Feb. 18 lead us to conclude that a conciliatory end to the political stand-off is now out of reach,” the agency said.

Further aid from Russia is also now a big question, as the Ukraine leadership has become more uncertain than ever, the agency added.

“We believe that the Russian government's support for Ukraine is tied to the current leadership and its political orientation away from the EU and toward Russia. As a result of the intensifying political turmoil in Ukraine, we consider that continued Russian support up to the committed $15 billion is increasingly uncertain.”

“Should Russian financial support fall short of Russia's commitments, we expect the government of Ukraine to default on its foreign currency obligations,” the report added.Read the full story here, more here.