Moody's has again downgraded Russia's long-term credit rating by four notches, from B3 to Ca, with a negative outlook, considering that the restrictions imposed by the country's central bank will limit cross-border payments, including the payment of government bond servicing.
The last downgrade (by three notches) by Moody's was on 3 March. The Ca rating corresponds to an imminent default with little prospect of recovery.
(CNA)
CNA
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