S&P Cuts Russia Credit Rating to ‘Junk’
January 27th, 2015“I’d seriously consider getting her and her money out of there ASAP. You wouldn’t want her to be in Putin-Land or holding Putin-Bucks if this thing gets any worse.”
Via: AFP:
Standard and Poor’s stripped Russia of its investment-grade rating on Monday, cutting it to “junk” status with a warning of weak growth.
“The downgrade reflects our view that Russia’s monetary policy flexibility has become more limited and its economic growth prospects have weakened,” the ratings agency said in a statement announcing the one-notch cut to a ‘BB+’ rating.
The plunge in oil prices and Western sanctions over Moscow’s role in the Ukraine war have pummelled the Russian economy in recent months, with the ruble collapsing in value.
Russia’s finance minister on Monday criticised Standard & Poor’s rating agency for its decision to cut the country’s rating from investment-grade to “junk” status.
