SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Tuesday lowered Ukraine's long-term foreign currency sovereign rating to CCC+ from B- and its short-term rating to C from B. "The downgrade reflects our view that the significant escalation of the political turmoil in Ukraine makes the expected financial support package from Russia less certain should the government of President Yanukovych fall," said S&P in a statement. Ratings in the CCC category are generally viewed as poor quality with likelihood of default. The outlook on the ratings is negative.