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S&P Downgrade ‘Groundlessly Pessimistic’ – Russian Finance Minister
The downgrade of Russia’s credit rating by S&P is unreasonable, as the agency didn’t consider the country’s anti-crisis plan, and the strong economy with its large reserves and extremely low public debt, said Russian Finance Minister Anton Siluanov. Siluanov says he does not think the move will lead to a sharp decline in the share … Continue reading
S&P Downgrades Russia Credit Rating To Junk
Standard & Poor’s has cut Russia’s credit rating to junk level, putting it below investment grade for the first time in a decade. The international ratings agency announced on January 26 it had lowered its rating for Russian government debt to BB+ from BBB-. It added a negative outlook on the rating, saying, “The downgrade … Continue reading
Russian Central Bank Voids Standard & Poor’s, Moody’s, Fitch Ratings
The Central Bank of Russia will no longer use credit ratings from Standard & Poor’s, Fitch, or Moody’s that were assigned after March 1, 2014. All credit ratings given to Russian companies and banks will now be at the discretion of the Board of Directors of the Bank, according to a press statement Monday. The … Continue reading
‘Financial Meteorologists’ And Their Political Predictions About The Russian Economic Storm – OpEd
By Andrew Korybko Credit rating agencies are predicting quite a storm for the Russian economy, and they are therefore threatening to lower the country’s status to ‘junk’ level. Just as a weatherman may be incorrect about their storm predictions, so too may a ‘financial meteorologist’, except the latter has ulterior motives in doing so. S&P has … Continue reading
Fitch Downgrades 30 Major Russian Financial Institutions
By Sputnik Following its recent downgrade of the Russian sovereign rating,Fitch Ratings said Friday it had downgraded the key ratings of 30 Russian and Russian-owned financial institutions by one notch. MOSCOW/LONDON, January 16 (Sputnik) — Fitch Ratings said Friday it had downgraded the key ratings of 30 Russian and Russian-owned financial institutions by one notch, following its recent downgrade … Continue reading
Moody’s Downgrades Russia To Just Above Junk Level
Moody’s international ratings agency has downgraded Russia’s sovereign credit rating to Baaa3, which is just one notch above the non-investment grade. It follows similar moves from Fitch and Standard & Poor’s. The agency said the sharp decline in oil prices and Russia’s national currency – which could further undermine the country’s “subdued growth prospects” – … Continue reading
Fitch Downgrade Will Have ‘Limited’ Effect On Russia
The most recent downgrade by the Fitch rating agency that leaves Russia just one step away from ‘junk’ status won’t have a dramatic impact on the economy, Russian economists have told RT. “A Fitch downgrade will have a limited effect on the Russian economy, as the situation is already tense,”Vladimir Tikhomirov, chief economist at BCS … Continue reading
Fitch Downgrades Russia’s Credit Rating To 1 Notch Over Junk Level
The international ratings agency has knocked Russia’s credit rating down a peg, while warning that ‘growth may not return until 2017,’ as the national economy struggles amid sanctions and tumbling oil prices. Fitch Ratings Inc, with dual headquarters in New York and London, downgraded Russia’s credit rating to BBB- from BBB, which is just one … Continue reading
Russia ETF Falls In After-Hours Trade On Fitch Downgrade
By Tom Lydon The Market Vectors Russia ETF (NYSEArca: RSX) lost about three-quarters of a percent early in Friday’s after-hours session after Fitch Ratings lowered Russia’s sovereign credit rating to BBB-, the lowest investment grade, with a negative outlook. Fitch previously rated Russian sovereign debt BBB. “‘BBB’ ratings indicate that expectations of default risk are … Continue reading
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