Moody’s made the downgrade in credit rating of Russia

Rating Agency Moody’s put the sovereign credit rating of Russia, located at the level of Ba1, on review for possible reduction, according to a press release of the Agency.

“During the review Moody’s will evaluate the impact of a further fall in oil prices, which, according to forecasts from Moody’s will remain low for several years, the state of the Russian economy and balance of payments, including a deficit financing of state obligations”, — stated in the message of Agency.

Moody’s plans to complete the revision of the credit rating of Russia in two months.

At the end of February 2015, Moody’s downgraded the sovereign credit rating of Russia to Ba1 with a negative Outlook; this level is considered “junk”. A month before their rating to below investment level (BB+) has been downgraded by the Agency Standard & Poor’s. The third of the specialized organizations — Fitch mid-January and keeps Russia’s rating at BBB-, or on the verge of “junk”.