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Fitch downgrades Naftogaz to 'C' on distressed debt exchange

July 14 (Reuters) - Fitch Ratings on Thursday downgraded Ukraine's state-owned energy firm Naftogaz's long-term Issuer Default Rating (IDR) to 'C' from 'CCC' following its consent solicitation to defer its debt servicing of Eurobonds.

Creditors of Naftogaz have been urged to reject the company's request this week for a two-year debt payment freeze. (Reporting by Maria Ponnezhath in Bengaluru; editing by Jonathan Oatis)