By Dominic Culverwell in London Ukraine is heading towards default, according to the Fitch Ratings agency, Ukraine Business News reported on January 23. The agency rated Ukraine’s Long-Term Foreign-Currency IDR at ‘CC’, claiming that a further foreign currency commercial debt restructuring is probable, given the massive economic damage from Russia’s full-scale invasion and resulting large financial requirements in the medium term. Fitch sees that a degree of burden sharing by commercial creditors is a likely condition of the large financial assistance extended by official international credito…