Russia’s credit rating is cut to junk by S&P

Russia’s credit rating has been cut to junk – or below investment grade – by US ratings agency Standard and Poor’s for the first time in a decade.

BBC-1-27-15

S&P gave Russia a rating of BB+, which puts it at the same level as Indonesia and Bulgaria.

This makes it harder for Russia to borrow money from investors.

“Russia’s monetary-policy flexibility has become more limited and its economic growth prospects have weakened,” S&P said in a statement.  Read more

Categories: Economy, United States

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