Fitch downgrades Russia rating to C, sovereign default is imminent

Fitch Ratings has downgraded Russia’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘C’ from ‘B’. The ‘C’ rating reflects Fitch’s view that a sovereign default is imminent. The rating agency said developments since March 2, the last downgrade to “B”, “further undermined Russia’s willingness to service government debt.” It added, “the further ratcheting up […]

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