Russia Kept at Junk Rating With Negative Outlook by S&P

Russia’s foreign-currency credit rating was kept one step below investment grade at Standard & Poor’s as policy makers struggle to boost growth and the financial system risks weakening due to a lack of external funding amid sanctions.

The ratings company also left the “negative” outlook on its BB+ grade unchanged, according to a statement released on Friday. That puts Russia’s rating on par with Bulgaria and Indonesia.