Russian finance ministry says rating cuts are geopolitical By Reuters


© Reuters. FILE PHOTO: A sign is on display outside Russia’s Finance Ministry building in Moscow, Russia March 30, 2021. A sign reads: “Ministry of Finance of the Russian Federation”. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) – Russia’s finance ministry said on Saturday that the sovereign rating cut by Standard and Poor’s (NYSE:) and a move to review the country’s rating by Moody’s (NYSE:) were linked to geopolitical factors.

Russia’s invasion of Ukraine triggered a flurry of credit rating moves on Friday, with S&P lowering Russia’s rating to ‘junk’ status and Moody’s putting it on review for a downgrade to junk.

The finance ministry said in a statement that Russia remained financially stable and would continue following prudent financial and budget policy.

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© Reuters. FILE PHOTO: A sign is on display outside Russia’s Finance Ministry building in Moscow, Russia March 30, 2021. A sign reads: “Ministry of Finance of the Russian Federation”. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) – Russia’s finance ministry said on Saturday that the sovereign rating cut by Standard and Poor’s (NYSE:) and a move to review the country’s rating by Moody’s (NYSE:) were linked to geopolitical factors.

Russia’s invasion of Ukraine triggered a flurry of credit rating moves on Friday, with S&P lowering Russia’s rating to ‘junk’ status and Moody’s putting it on review for a downgrade to junk.

The finance ministry said in a statement that Russia remained financially stable and would continue following prudent financial and budget policy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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