Russia on the brink of bankruptcy

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.

Source: https://businessinsider.com.pl/gospodarka/fitch-obniza-rating-rosji-i-ostrzega-przed-niewyplacalnoscia/wx9t1sf

 

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