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Moody's, Fitch downgrade Russia's sovereign rating

The negative outlook reflects a high degree of international volatility, including the possibility of further sanctions and uncertainty about Russia's response

MOSCOW, March 3. /TASS/. International rating agencies Fitch and Moody's downgraded Russia’s sovereign rating on Thursday.

Thus, Moody's downgraded the long-term ratings of the Russian Federation on debt obligations in foreign and national currencies to "B3" from "Baa3", the agency said. At the same time, the ratings remain under review with the possibility of further downgrades.

Meanwhile, Fitch downgraded Russia's long-term foreign currency default rating to "B" from "BBB". The negative outlook reflects a high degree of international volatility, including the possibility of further sanctions and uncertainty about Russia's response, including a possible debt default, as well as an increased risk of loss of domestic economic confidence.