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S&P downgrades Russia to speculative grade “BB+” from “BBB-“, outlook negative

January 26, 2015, 21:18 UTC+3
Russia’s Economic Development Minister Alexey Ulyukayev said last month Russia could lose between $20 billion and $30 billion from its investment rating downgrade by S&P
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© AP Photo/Richard Drew

LONDON, January 26. /TASS/. The international rating agency Standard&Poor's (S&P) has downgraded Russia's ratings to speculative grade “BB+” from “BBB-“ with a negative outlook, it reported on Monday.

The US dollar rose to over 67 roubles in Moscow trading after S&P announced Russia’s downgrade to “BB+”.

Russia could lose between $20 billion and $30 billion from its investment rating downgrade by S&P, Russia’s Economic Development Minister Alexey Ulyukayev said last month.

S&P announced in late December it had placed Russia’s sovereign rating on a negative CreditWatch due to the ruble’s high volatility and the weakening economy. On January 10, the Fitch rating agency said it had downgraded Russia’s long-term rating from BBB to BBB-, with a negative outlook.

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