Russian Interior Ministry to control 13 more new psychotropics, drug-containing plantSociety & Culture July 24, 2:54
MAKS-2017 airshow yields contracts to over $6bln - Russian ministry of industry and tradeBusiness & Economy July 23, 23:48
Russian consumer rights watchdog chief names cities with highest HIV ratesSociety & Culture July 23, 21:41
Serbian filmmaker Kustirica says Crimea’s reunification with Russia is natural processSociety & Culture July 23, 21:40
Israeli embassy in Amman attacked by terrorists, some people wounded - TVWorld July 23, 21:35
Boxing Day on Red Square sets new Guinness recordSport July 23, 8:33
Joseph Dunford says Russia most military capable country of those posing threat to USWorld July 23, 4:57
Russia’s US envoy Kislyak steps down, his deputy to act as Charg d'Affaires ad interimRussian Politics & Diplomacy July 23, 1:33
Putin greets KamAZ-Master team - winner of Silk Way RallySport July 22, 15:20
MOSCOW, December 29. /TASS/. Russia may lose $20-30 billion from its investment rating downgrade by S&P international rating agency, Economic Development Minister Alexey Ulyukayev said in an interview with Business FM radio station.
“If Standard&Poor’s takes a rating action, this will entail material consequences,” the economy minister said. “The covenants stipulated in loan agreements and the terms of bond placements will be triggered and we’ll get some additional early repayment, aside from the original repayment schedule,” the minister said.
“We can’t specify this sum right now but intuitively this is about $20-30 billion. However, this amount still needs to be specified and requires additional work. This is a new risk,” he said.
S&P announced on December 23 it had placed Russia’s sovereign rating on a negative CreditWatch due to the ruble’s high volatility and the weakening economy.
S&P currently rates Russia’s long-term foreign currency obligations at BBB- and national currency obligations at BBB.
“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," it added.