THIS MESSAGE (MATERIAL) IS CREATED AND (OR) DISTRIBUTED BY A FOREIGN MASS MEDIA PERFORMING THE FUNCTIONS OF A FOREIGN AGENT AND (OR) A RUSSIAN LEGAL ENTITY PERFORMING THE FUNCTIONS OF A FOREIGN AGENT.
Fitch downgraded Russia’s long-term foreign currency rating from ‘B’ to ‘C’, according to a statement on the agency’s website.
The ‘C’ rating reflects Fitch’s view that a sovereign default is imminent.
Earlier, the international rating agency Moody’s downgraded the rating of the Russian Federation from “B3” to “Ca” due to fears that the capital control measures introduced by the Central Bank of the Russian Federation would prevent the servicing of sovereign debt to foreign investors, and also admitted that the Russian economy could against the backdrop of tough sanctions and their consequences, fall immediately by 7%.
Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.” In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones. Foreign companies began to leave Russia one by one.
You can follow the chronicle of events around Ukraine on March 9 here.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
