Fitch cuts Ukraine credit rating deeper in junk

Fitch downgraded Ukraine's credit rating a notch deeper in junk territory on Friday, citing an increased probability that the conflict-hit country would default. Ukraine agreed to a $17.5 billion four-year bailout from the IMF in exchange for undertaking economic reforms. The loan replaces a previous two-year, $17 billion program announced in April that has proven inadequate to stabilize Ukraine's finances, as the country fights a pro-Russia insurgency in the industrialized east. "