Fitch cuts Russia's rating further into junk, says debt default imminent - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

📆 3/9/2022 2:27 AM
📰 SABCNews

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Fitch on Tuesday downgraded Russia’s sovereign rating by six notches further into the junk territory to ‘C’ from ‘B’, saying a default is imminent as sanctions and trade restrictions have undermined its willingness to service debt.

The change comes less than a week after Fitch revoked Russia's investment-grade status, slashing its rating to"B"from"BBB".The change comes less than a week after Fitch revoked Russia's investment-grade status, slashing its rating to"B"from"BBB".

The rating firm pointed to Presidential decree, which could potentially force a redenomination of foreign-currency sovereign debt payments into local currency for creditors in specified countries. On March 16, Russia is due to pay $107 million in coupons across two bonds, though it has a 30-day grace period to make the payments.

Write Comment

Fitch is back😂😂

Hayi suka these rating agencies are a scam

Aaah you think puting cares

Willingness or ability to service the debt?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines