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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMoody's cuts Russia rating to Ca on rise in default risk
LONDON, March 6 (Reuters) - Moody's cut Russia's credit rating to Ca on Sunday, the second-lowest rung of its ratings ladder, citing central bank capital controls that are likely to restrict payments on the country's foreign debt and lead to default.
Moody's said its decision to cut Russia's rating was "driven by severe concerns around Russia's willingness and ability to pay its debt obligations".
Russia's economy has been plunged into crisis as a result of harsh sanctions imposed by the West which include freezing assets of the central bank held overseas and severing several Russian banks from the SWIFT international payments systems.
On Sunday, the central bank said Russian creditors and those from countries that had not joined in with sanctioning the country would be paid in roubles at the exchange rate prevailing at the time of payment.
https://www.reuters.com/business/finance/moodys-cuts-russia-rating-ca-rise-default-risk-2022-03-06/
mahatmakanejeeves
(56,906 posts)special ratings using letters from the Cyrillic alphabet.
Donkees
(31,091 posts)jimfields33
(15,475 posts)Any chance we could pay the debt off in rubles? I think getting that off our debt is important. We should not owe Russia anything.