>Moody’s cut Russia’s long-term issuer and senior unsecured debt ratings six notches to non-investment grade B3 from Baa3 and they remain on review for further downgrade.
I wonder how the grading system looks.
It’ll be interesting to see how relevant these economic scorecards are to an advanced economy that isn’t strongly linked to the western financial system. I’m guessing that after a week or two the Russian markets will get back to normal as Russian investors swoop back in to the market.
I do wonder how the west-based business of the sanctioned Russian banks will be impacted. Presumably the western clients have lost all their money / lines or credit etc. I guess their respective home governments have quietly lined-up substitute banks that’ll take on the client risk sight unseen – presumably backed by some kind of government guarantee.
“While the EU has barred Russia from accessing its capital markets, the cut in ratings will also make it difficult for Russia and Russian companies to raise funding globally,” it says here
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Conern they going on
>Moody’s cut Russia’s long-term issuer and senior unsecured debt ratings six notches to non-investment grade B3 from Baa3 and they remain on review for further downgrade.
I wonder how the grading system looks.
It’ll be interesting to see how relevant these economic scorecards are to an advanced economy that isn’t strongly linked to the western financial system. I’m guessing that after a week or two the Russian markets will get back to normal as Russian investors swoop back in to the market.
I do wonder how the west-based business of the sanctioned Russian banks will be impacted. Presumably the western clients have lost all their money / lines or credit etc. I guess their respective home governments have quietly lined-up substitute banks that’ll take on the client risk sight unseen – presumably backed by some kind of government guarantee.
“While the EU has barred Russia from accessing its capital markets, the cut in ratings will also make it difficult for Russia and Russian companies to raise funding globally,” it says here