Putin blames politics for Russian ratings downgrade
Telegraph - Jan 28, 2015
The decision to cut the status of Russian government debt to “junk†on Monday was politically motivated, Vladimir Putin has said.
Standard and Poor’s (S&P), a ratings agency, slashed the rating it holds on Russian sovereign debt from BBB- to BB+, taking it below investment grade status for the first time in a decade.
A prolonged oil price slump and heavy sanctions over tensions in Ukraine have weighed heavily on the Russian economy. The rouble has slid by close to 49pc against the dollar since the beginning of 2014 as a result. More sanctions may soon be deployed, making things harder still.
