S&P reviewing Russia for ratings downgrade

Russia's ruble fell decisively last week, spurring the country's central bank to sharply raise interest ratesStandard & Poor’s announced Tuesday that it is considering a downgrade to Russia’s credit rating due to its economic troubles and a weakening financial system. Russia’s foreign-currency sovereign rating is currently BBB-, the lowest notch of investment grade. Tuesday’s review means there is at least a 50 percent chance of a downgrade, S&P said. Russia’s ruble fell decisively last week, spurring the country’s central bank to sharply raise interest rates.

Share this article