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S&P places Russia’s ratings on CreditWatch negative

December 24, 2014, 1:27 UTC+3 MOSCOW
“The CreditWatch placement stems from what we view as a rapid deterioration of Russia's monetary flexibility and the impact of the weakening economy on its financial system,” S&P said
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MOSCOW, December 23. /TASS/. Standard & Poor's Ratings Services said Tuesday it placed its 'BBB-/A-3' long-and short-term foreign-currency sovereign ratings and 'BBB/A-2' local-currency sovereign credit ratings on Russia on CreditWatch with negative implications.

“The CreditWatch placement stems from what we view as a rapid deterioration of Russia's monetary flexibility and the impact of the weakening economy on its financial system,” S&P said.

“The placement of the rating on CreditWatch with negative implications reflects Standard & Poor's view that there is at least a one-in-two likelihood of a negative rating action within 90 days,” the ratings agency said. “We plan to resolve the CreditWatch placement by mid-January.”

In late October, S&P affirmed its long-term foreign currency rating on Russia at BBB-with a negative outlook.

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