RIA Novosti reported Saturday that Fitch joined Moody's Investors Service and Standard & Poor's by giving Ukraine a CCC rating, down from its previous B minus score.
Ukraine's senior unsecured foreign debt was downgraded from B minus to CCC. Local currency bonds were affirmed at B minus.
Fitch said political instability was a contributing factor in the downgrade, although it left the rating for Ukraine's currency at B minus with a negative outlook.
The negative outlook implies that Fitch's rating for the currency could be revised soon.