Russia's credit rating is cut to junk
January 27 , 2015
Standard and Poor’s has cut Russia’s credit rating to junk for the first time in ten years. The US ratings agency has given a rating of BB+ to Russia, thus making it tougher for the country to borrow from investors, media reports said.
S&P said the monetary policy flexibility of Russia had “become more limited” and growth prospects had weakened. The agency added there was an increased risk of deterioration of “external and fiscal buffers” to the Russian economy.