Moody’s Cuts Russia’s Rating Deeper Into Junk Territory to CA
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Russia’s long-term issuer and senior unsecured debt ratings were cut to Ca from B3 with a negative outlook by Moody’s Investors Service on expectations that capital controls by the Central Bank of Russia will restrict cross border payments including for debt service on government bonds.
The change comes less than a week after Moody’s stripped Russia of its investment-grade rating, slashing Russia’s creditworthiness to B3 on March 3.