17:58 - 18.03.2022

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March 18, Fineko/abc.az. International rating agency S&P Global Ratings (S&P) has downgraded the long-term sovereign credit rating of the Russian Federation in foreign currency from CCC- to CC with a negative outlook.

ABC.AZ reports that the long-term rating in the national currency has also been lowered from CCC- to CC.

It is noted that the ratings are placed on the CreditWatch list with a negative outlook.
"So, we consider that debt service payments on Russian Eurobonds may face similar technical difficulties in the next few weeks," the statement says.
S&P believes that at the moment Russia's debt is very vulnerable to non-payments.