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Moody’s downgrades Russia to brink of junk

Jan. 18, 2015 9:30 AM ETRSX, RBL, ERUS, RSXJ, RUSL, RUSSBy: Yoel Minkoff, SA News Editor34 Comments
  • Moody's on Friday cut its government bond rating on Russia, placing it just one notch above junk, citing the effects of plunging oil prices and the ruble.
  • "In the review for further downgrade, Moody's will assess the resiliency of the government's balance sheet, in particular its foreign currency reserves cushion," the ratings agency announced.
  • The downgrade brings Moody’s ratings on Russia in line with those from Standard & Poor’s and Fitch.
  • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
  • Previously: Russia placed on CreditWatch Negative at S&P
  • Previously: Fitch downgrades Russia to one notch above junk

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