I was reading articles about Reuters’ credit rating downgrade, but I ignored it.20220303 1713
Going to the Gallog.The view count is 6528.Recommendation 56
Comments 72
Fitch downgraded Russia to B from BBB and
placed the countrys ratings on rating watch
negative Moodys which last week had flagged
the possibility of a downgrade also cut the
countrys rating by six notches to B3 from Baa3
Fitch said the only other precedent to such a
large six-notch downgrade on a single sovereign
entity was South Korea in 1997
The severity of international sanctions in
response to Russias military invasion of Ukraine
has heightened macro-financial stability risks
represents a huge shock to Russias credit
fundamentals and could undermine its
Moody’s demoted Russia’s credit rating from the lowest of Baa3 investment ratings to the lowest of B3 speculation ratings in Pakistan at a time, and according to Moody’s, the only precedent for a single government agency’s demotion was South Korea in 1997
I suddenly realize how much I’ve been bumping into him.
Korea has come all the way here after overcoming the war-like crisis.