Moody's downgrades Russia to Baa2

[American]

Moody's downgrades Russia to Baa2

Moody's Investors Service cut Russia's sovereign debt rating to 'Baa2' from 'Baa1', becoming the second ratings agency to cut the country's ratings this year, after S&P initiated a downgrade in April.

Moody's said the prolonged crisis in Ukraine was weighing on Russia's medium-term growth prospects.

"The military confrontation in Ukraine and escalating sanctions against Russia are likely to have an increasingly negative macroeconomic impact on Russia's investment climate," the ratings agency said on Friday.

Looks like Putin is getting a little asskicking here.

 

[DDD]

Perhaps that is why they turned to Serbia and asked for goods and oil backup. I covered this probably related topic here:

http://www.debatepolitics.com/break...in-cheered-serbia-seeks-pipeline-backing.html