Ratings agency S&P cut Russia’s sovereign credit rating to below investment grade, or “junk” status, on Monday for the first time in a decade.

The rouble fell after the news to 67.98 against the dollar , more than 5 percent lower than the previous close on the Moscow Exchange.

S&P said in a statement it had cut the rating from BBB- to BB+, with a negative outlook, and that Russia’s economic growth prospects – hit by low oil prices and Western sanctions in the Ukraine crisis – had weakened.

Read more


NEWSLETTER SIGN UP

Get the latest breaking news & specials from Alex Jones and the Infowars Crew.

Related Articles


Comments