Question Details

When will one of the other 4 rating agencies lower Russia's credit rating to 'junk' ?

When will one of the other 4 rating agencies lower Russia's credit rating to 'junk' ?

Asked by: Super UserJosef Biesenberger in Business » Economics
Settled on 01/07/2017 19:45 Settled by Super UserJosef Biesenberger
Winning option:later or nevernever'.


in Q1_2016
in Q2_2016
in Q3_2016
in Q4_2016
later or never


latest ratings for Russia:

S&P:___________ BB+_Negative 2015-01-26 Junk
Fitch:__________ BBB- Negative 2015-01-09 Invest
Moody's:_______ Ba1 Stable 2015-12-03 Junk
Dagong:________ A___ Stable 2013-11 Invest
JCR:____________ BBB- Negative 2014-12-26 Invest
China Chengxin:_ Ag___ Stable 2012-08 Invest

Standard & Poor lowers Russia's credit rating to 'junk'

27 January 2015 11:40 (Last updated 27 January 2015 12:05)
Credit rating agency, Standard & Poor, has lowered Russia's rating to the "highest speculative" level BB+.


Credit rating agency, Standard & Poor, announced Monday that it downgraded Russia's credit rating from BBB- to BB+ "negative."

This is the first time in over a decade that Russia's rating has been reduced to the level of "junk."

According to the service's announcement published on its website, "the Russian Federation's monetary policy flexibility has weakened, as have its economic growth prospects."

"The outlook is negative, reflecting our view that Russia's monetary policy flexibility could diminish further. We could lower the ratings if external and fiscal buffers deteriorate over the next 12 months faster than we currently expect," the statement read.

The news was met with a significant reaction in the foreign exchange market, with the ruble falling to 68.75 against the dollar, correcting itself Tuesday morning to 67.98.

Reacting to the news, Russia's Minister for Economic Development Alexei Ulyukaev called the downgrade "unjustified" in an interview with Russia's Rossiya 24 TV network.

"They have added risks which I consider unjustified, but nevertheless, this is a significant downgrade of the Russian Federation's rating," Ulyukaev said.

Standard & Poor's recent downgrade comes after similar downgrades from Fitch Ratings and Moody's earlier this month. The last time Russia's rating had been downgraded to "junk level" was in 1998, when the Russian government experienced a default on its debt obligations.

Find similar: debt; credit, rating


Comment on this question:

Sign in to comment

No comments yet, be the first to comment on this!


What's This!?

  • This is a user submitted question. Players make predictions on what they expect to be the actual outcome.


  • Register for free and get 1,000 KtN$
    in virtual cash to start predicting!

  • Limited offer: Sign up today and recieve double cash!