16:29 - 15.04.2022

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April 15, Fineko/abc.az. On 4 April, Russia made payments in rubles on two sovereign bonds maturing in 2022 and 2042. However, under the terms of the securities, payments had to be made in US dollars. According to the rules of the Moody's agency, if this situation is not eliminated by 4 May, it will lower Russia's rating to the "default" state.

ABC.AZ reports that the rating agency warned about this.

Moody's informs that securities contracts do not provide for payment in any other currency other than the dollar.

Although Eurobonds issued after 2018 allow payments in rubles under certain conditions, bonds issued before 2018 (including the Russia-2022 and Russia-2042 issues) either do not provide for such a condition for changing the payment currency, or allow payments only in other hard currencies (dollar, euro, pound sterling or Swiss franc)," the agency says.