MEXICO CITY, Mexico, in February. 20-2015.- Moody’s lowered the credit rating of Russia to speculative category and said he expects the country’s economy suffered a deep recession this year.
The agency cut Russia’s sovereign rating to “Ba1″ the first step of grade “junk” from “Baa3″, the bottom rung of investment grade.
The note carries a negative outlook, which Moody’s said it is unlikely a rise in qualifying in the short term.
Among the reasons pointed includes “the continuing crisis in Ukraine” and the drop in international oil prices, which can generate tensions in the medium-term prospects of Russian economic growth.
Also mentioned the “continuous erosion” in the levels of foreign exchange reserves and risk, “still very low,” that due to the crisis in Ukraine, have problems meeting their commitments timely debt .
“Russia is expected to experience a deep recession in 2015 and continued economic contraction in 2016. The decline in confidence is likely to restrain domestic demand and exacerbate the already chronic underinvestment” Moody’s maintains
(With information from Reuters – EFE)
LLC
. <- END: str_title_01 ->
No comments:
Post a Comment