USATODAY: Russia’s credit rating was slashed to “junk” Monday as the country’s financial system is “weakening,” says ratings agency Standard & Poor’s…
Russia is in a world of hurt as falling oil prices crush the nation that relies heavily on energy exports. Sanctions placed on the country by the U.S. following President Vladimir Putin’s military moves in the Ukraine are also hurting.
S&P doesn’t see a turnaround in the country’s finances anytime soon, either, pointing out that its “monetary policy flexibility could diminish further,” according to S&P. Not only was the country’s rating cut, but it has a “negative outlook” which means further downgrades could be coming… (more)
