MOSCOW (AFP) – Standard and Poors stripped Russia of its investment-grade rating on Monday, cutting it to junk status with a warning of weak growth.The downgrade reflects our view that Russias monetary policy flexibility has become more limited and its economic growth prospects have weakened, the ratings agency said in a statement announcing the one-notch cut to a BB rating.The plunge in oil prices and Western sanctions over Moscows role in the Ukraine war have pummelled the Russian economy in recent months, with the ruble collapsing in value.Russias finance minister on Monday criticised Standard & Poors rating agency for its …read more
Source: Dunya TV
