UKRAINE: RUSSIA/UKRAINE CRISIS – Fitch downgrades Moscow´s global rating
By Iain Fraser – Consultant Geopolitical Editor
Fitch Ratings has downgraded Russia’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘C’ from ‘B’ meaning that the agency believes that Russia will soon be unable to pay its debts and warning that a default is imminent.
Credit ratings are intended to help investors weigh up the risk/reward ratio if they go on to buy a country´s bonds or debt, however the move comes at a bad time for Putin with the realisation of increasing international sanctions against Russia following its invasion of Ukraine.
This is the second time this month that Fitch has downgraded its view of Russia´s ability to service its ever increasing debt. Learn More/…
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