Russia's credit rating cut to junk by S&P as other agencies mull or take downgrade action
https://www.msn.com/en-us/money/markets/russias-credit-rating-cut-to-junk-by-sandp-as-other-agencies-mull-or-take-downgrade-action/ar-AAUljbR?li=BBnb7Kz
Russias credit rating was cut to junk by S&P Global Ratings, part of a wide review by all major rating agencies to grade the soundness of the gas-exporting giants financial health after the countrys invasion of Ukraine.
Moodys Investors Service, meanwhile, said late Friday it has placed Russias and Ukraines credit ratings on review for possible downgrades, again to speculative, or junk, ratings for Russia.
S&P joined Fitch Ratings in downgrading Ukraine.
The war, which entered its third day Saturday as Russian troops reportedly pushed into the capital Kyiv, has prompted the U.S. and allies to impose sanctions on Russia. President Joe Biden also sanctioned Vladimir Putins own finances and those of several key aides.
And the walls keep closing in on Putin.