Vladimir Tihomirov
S&P Downgrades Russia's Credit Rating to `Junk`
The US rating agency Standard & Poor's (S&P) has downgraded Russia's credit rating to junk, which is below investment grade.
Russia's credit rating has been lowered to such a level for the first time in a decade, Bloomberg reports.
Having a rating of BB+, Russia is on a par with Bulgaria and Indonesia, which makes it difficult for Moscow to borrow money from investors.
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