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S&P downgrades Russia credit rating to "junk" status

It sees Russian economy contracting 2.6% in 2015 on oil price's fall and sanctions

Published Tue, Jan 27, 2015 · 09:50 PM

Moscow

STANDARD And Poor's stripped Russia of its investment-grade rating on Monday, cutting it to "junk" status with a warning of weak growth and banks.

"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 rol…

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International

International

S&P downgrades Russia credit rating to "junk" status

International

IMF concerned about debt, fiscal challenges facing low-income countries

Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising

Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill

Fed survey cites inflation, US election as key financial stability risks

Oil prices steady after Iran plays down reported Israeli attack

G7 pledges swift aid for Ukraine, seeks to calm Middle East

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