Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsS&P slashed Russia's debt to junk and says there are already 30 corporate 'fallen angels' as a resul
result of the war.Russia's invasion of Ukraine has come with a heavy price for the government. Western sanctions have isolated it from the international financial system and choked off demand for many of its key exports.
Sanctions have cut off Russia's access to much of its foreign reserves, threatening to plunge the country into default as it could struggle to meet its foreign debt payments. The ruble has plummeted to record lows and the country's stock market has been paralyzed for weeks.
S&P Global this week cut Russia's credit rating to "CC", which it defines as "default imminent with little prospect for recovery." Four years ago, almost to the day, the agency awarded Russia an investment-grade "BBB-" rating.
It's not just the government that will struggle to raise capital on the global market. Sanctions have thrown the future of many of its biggest companies into doubt. S&P Global said this week it had made 121 changes to the ratings of companies that cited the Russia-Ukraine war, rising energy prices, or both as reasons. Of that total, 77 were Russian.
https://www.msn.com/en-us/money/markets/s-p-slashed-russia-s-debt-to-junk-and-says-there-are-already-30-corporate-fallen-angels-as-a-result-of-the-war-here-are-5-charts-that-show-the-hit-to-russia-inc-s-creditworthiness/ss-AAVheC8
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 829 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (14)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
S&P slashed Russia's debt to junk and says there are already 30 corporate 'fallen angels' as a resul (Original Post)
Yo_Mama_Been_Loggin
Mar 2022
OP
Response to Yo_Mama_Been_Loggin (Original post)
Sherman A1 This message was self-deleted by its author.
Stuart G
(38,421 posts)2. Thanks for posting, Extremely Bad News for all of Russia and for Putin as well.-- K and R
NJCher
(35,662 posts)3. One of the corporate fallen angels is...
Gazprom!
Boomerproud
(7,952 posts)4. I thought they were supposed to default last Wednesday.