Fitch, Moody’s slash Russia’s sovereign rating to junk

Published by
Reuters UK

(Reuters) – Ratings agencies Fitch and Moody’s downgraded Russia by six notches to “junk” status, saying Western sanctions threw into doubt its ability to service debt and would weaken the economy. Russia’s financial markets have been thrown into turmoil by sanctions imposed over its invasion of Ukraine, the biggest attack on a European state since World War Two. The invasion has triggered a flurry of credit rating moves and dire warnings about the impact on Russia’s economy. S&P lowered Russia’s rating to junk status last week. It also prompted index providers FTSE Russell and MSCI to announc…

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