The IMF said it expects that Ukraine will continue servicing its debt as it has been doing even in the face of the turmoil caused by Russia’s continuing invasion. The IMF comments follow a request this week from the country’s state-owned energy firm NJSC Naftogaz to delay roughly $1.4bln of its debt payments to holders to preserve cash for gas purchases. Consequentially, Fitch downgraded Naftogaz’s rating to ‘C’ from ‘CCC’ on distressed debt exchange.