(New York) The financial rating agency S&P Global Ratings on Thursday lowered the rating granted to Russia to “CCC-” and warned that it could downgrade it further as the sanctions imposed on the country increase the risk of non-payment of debt.
Posted at 4:49 p.m.
“The military conflict between Russia and Ukraine has triggered a new round of government sanctions by G7 countries, including those targeting the foreign exchange reserves of the Central Bank of Russia”, which have so far been an asset in the financial strength of the country, justified the agency in a press release.