Russia’s foreign currency payment rating has been downgraded after Moscow used rubles to make a dollar-denominated debt payment earlier in the week, a move that rating agency S&P Global said casts doubt on Russia’s ability or willingness to honor its obligations to foreign debtholders. S&P Global on Saturday cut Russia’s rating to “selective default,” saying…
Russia’s Foreign Currency Rating Cut, Risk of Debt Default Looms
April 9, 2022
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