Russia’s credit rating has been cut to ‘BB+’ by S&P. All ratings below ‘BBB-‘ are considered “junk” as they are below the lowest investment grade rating. The ratings outlook is negative. Here’s the release from S&P: RATING ACTIONOn Jan. 26, 2015, Standard & Poor’s Ratings Services lowered its long- and short-term foreign currency sovereign credit ratings on the Russian Federation to ‘BB+/B’ from ‘BBB-/A-3’. We also lowered the long- and short-term local currency sovereign credit ratings to ‘BBB-/A-3’ from ‘BBB/A-2’. In addition, we removed these ratings from CreditWatch, where they were placed with negative implications on Dec. 23, …read more
Source: Business Insider
