Moody’s and Fitch have withdrawn their investment grade sovereign ratings from Russia

Two credit rating agencies downgrade Russia

Moody’s has downgraded Russia’s long-term foreign currency and foreign currency debt rating from “Baa3” to “B3” and is also reviewing the new rating.

In Moody’s methodology, the “Baa3” rating is the lower limit of the investment recommendation category, with the “B3” rating now given to Russia already deep in the speculative band. (Kertész Róbert, MTI)