MOSCOW: Russia was downgraded to the second lowest level by Fitch Ratings, which said a bond default is “imminent” as a result of measures ushered in since the war in Ukraine.
(Bloomberg) The odds of Russia making its foreign debt payments is diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co.
American credit rating agency Fitch Ratings has downgraded Russia’s credit rating from a “B” to a “C” and suggested that a sovereign default is imminent as the country continues to face economic backlash from its decision to invade neighboring Ukraine roughly two weeks ago.