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BREAKING NEWS

Russia Finance Minister slams 'political character' of Moody's downgrade

Ratings agency Moody’s has downgraded Russia’s sovereign rating to below investment grade or junk status, citing the impact from the Ukraine crisis

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Russia Finance Minister slams 'political character' of Moody's downgrade

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Ratings agency Moody’s has downgraded Russia’s sovereign rating to below
investment grade or junk status, citing the impact from the Ukraine crisis, a fall in oil prices and the rouble exchange rate.

Russian Finance Minister Anton Siluanov slammed the move as based on “factors of a political character”.

Russian officials have repeatedly cast doubt upon the impartiality of major ratings agencies following recent downgrades of Russian ratings, describing their motives as political in reference to the East-West confrontation over Ukraine.