LONDON—Moody’s cut its credit rating on Russia to Ca on Sunday and kept a negative outlook, citing central bank capital controls that would restrict cross-border payments including on debt. The downgrade is “driven by severe concerns around Russia’s willingness and ability to pay its debt obligations,” the rating agency said, adding that default risks had…
Fitch, Moody’s Cut Russia’s Sovereign Rating to ‘Junk,’ Rouble Dives to Record Low
March 3, 2022
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Rating agencies Fitch and Moody’s have downgraded Russia’s sovereign rating to junk status as a consequence of tough Western sanctions over the Kremlin-ordered invasion of Ukraine, sending the rouble plunging to a record low. Fitch downgraded Russia to “B” from “BBB” and put the country’s ratings on “rating watch negative.” Moody’s cut Russia’s rating by…
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