S&P to Pull Credit Ratings for All Russian Firms After EU Ban
- EU sanctions to block Russian access to credit-rating services
- S&P currently rates Russia CC, two levels above default
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S&P Global Ratings is withdrawing its credit grades on Russian entities after the European Union’s decision last week to ban firms from providing ratings to companies established in the country.
The withdrawal will take place before the April 15 deadline imposed by the EU, analysts Michelle James and Arnaud Humblot wrote in a Monday statement. It comes after the rating company suspended commercial operations in the country following Russia’s invasion of Ukraine.