Russia on the brink of bankruptcy
Fitch has downgraded Russia’s rating from B to C. It also warned in its announcement that the country’s insolvency is imminent.
A rating of C is only one degree above that which means insolvency. According to Ficht, Russia’s insolvency will be at least partial. This is because Moscow may not service its debts as a result of sanctions and a possible restriction of imports of Russian energy resources. Earlier, Russia’s rating was already downgraded by Moody’s and S&P.