Goldman Sachs note on Ukraine - may default in July

A Goldman Sachs note (dated June 24) says Ukraine faces a solvency & liquidity crisis

• May lead to a debt moratorium and default in July
• GS suggest a moratorium will be triggered before the next bond coupon payment is due on July 24
• GS says their 'base case' is for Ukraine to skip the July 24 payment and default

Report on the wires