Russia gets in the international capital markets under increasing pressure. The rating agency Fitch has graduated the creditworthiness of Moscow. The credit will only rated yet of “BBB-” Fitch said on Friday evening. The outlook is negative
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New York – Falling oil prices and the continuing conflict with Ukraine had led in Russia to the worst currency crisis since 1998, Fitch stated in its reasoning. With “BBB-” Russia is in its creditworthiness at Fitch now on a par with India and Turkey
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The Fitch rival Standard & amp; Poor’s (S & P) Russia had already threatened just before Christmas with the downgrade to junk status – and asked the current credit rating of “BBB-” under observation. Moody’s third major rating agency had done something similar in October
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A further downgrade is likely to increase the cost of borrowing of the Russian state further
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The falling oil prices and the sanctions of the West had last heavy load on the Russian economy. The ruble and the stock markets came under strong pressure. The Russian central bank tried to stabilize by a significant rate hike the ruble. Recently, the situation in the financial markets eased somewhat
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