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S&P Downgrades Russia
World Economy

S&P Downgrades Russia

Standard and Poor’s stripped Russia of its investment-grade rating, cutting it to “junk” status with a warning of weak growth, Channel NewsAsia said. “The downgrade reflects our view that Russia’s monetary policy flexibility has become more limited and its economic growth prospects have weakened,” the ratings agency said in a statement announcing the one-notch cut to a ‘BB+’ rating.

 

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