Sunday, 27 April 2014

Russia's credit rating downgraded by S&P

An armed man stands guard outside a building seized by pro-Russia separatists in the eastern Ukrainian city of Slavyansk on April 25, 2014

Credit ratings agency Standard & Poor's has cut Russia's rating to one notch above "junk" status.
The move comes as foreign investors continue to take money out of the country amid tensions over the situation in Ukraine.
S&P downgraded Russia's rating to 'BBB-' from 'BBB'.
Also on Friday, Russia's central bank raised its key interest rate from 7% to 7.5% as it sought to defend the value of the rouble.
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