S&P Downgrades Russia's Credit Rating to CC, Indicating 'Restricted Default'
[Asia Economy Reporter Kim Hyunjung] The international credit rating agency Standard & Poor's (S&P) downgraded Russia's credit rating from CCC- to CC, Bloomberg reported on the 17th (local time).
The credit rating CC signifies a 'restricted default' status. The credit rating outlook remains 'negative.'
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S&P explained that it considered the fact that investors did not receive the dollar and euro bond interest payments due on the 16th from the Russian government on time due to technical difficulties caused by international sanctions against Russia.
This content was produced with the assistance of AI translation services.
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