The international rating agency Moody’s Investors Service downgraded the ratings of Moscow, St. Petersburg, Krasnodar, Omsk and Volgograd, as well as some subjects and companies to the near-default level Ca. The negative outlook remains.
Whose ratings were downgraded:
- Moscow,
- St. Petersburg,
- Moscow region,
- Bashkiria,
- Tatarstan,
- Khanty-Mansi Autonomous Okrug,
- Samara Region,
- Omsk region,
- Nizhny Novgorod Region,
- Chuvashia,
- Krasnodar region,
- Krasnoyarsk region,
- Komi Republic.
The ratings of SUE “Vodokanal of St. Petersburg” and OJSC “Western high-speed diameter” were also downgraded.
The underlying credit ratings of all regional and local governments have also been downgraded to Ca. The downgrade shows a significant weakening of the creditworthiness of regions and issuers.
On March 6, Moody’s downgraded Russia’s credit rating to near-default for the second time in a week. “Even with a reduction in geopolitical risks and a return to servicing sovereign debt,” Russia will not be able to regain its investment ratings “for a long period,” the agency noted. On March 3, Moody’s downgraded Russia’s credit rating by six points from Baa3 to B3. This happened against the backdrop of the start of a Russian special operation in Ukraine and the sanctions that followed.
About how Russia will deal with the consequences for the economy – in the material “Kommersant” “Just not the second front.”