Economy
Moody’s cuts Russia’s rating by six notches
International rating agency Moody’s Investors Service (Moody’s) announced that Russia’s rating has fallen six notches.
Moody’s downgraded the Russian government’s long-term issuer ratings (in local and foreign currency) and unsecured debt (in national and foreign currency) to “B3” from “Baa3”.
At the same time, the agency indicated that the rating is still on the review list for further downgrades.
International rating agency Fitch Ratings has also lowered Russia’s long-term default foreign currency rating to “B” from “BBB”.
