S&P lowers Russia foreign currency ratings to "BBB-/A-3", outlook negative

Standard & Poor's Ratings Services lowered its long- and short-term foreign currency sovereign ratings on the Russian Federation to 'BBB-/A-3' from 'BBB/A-2', the agency said in a press release.

At the same time, the long-term local currency sovereign rating was lowered to 'BBB' from 'BBB+', while the short-term local currency sovereign rating was affirmed at 'A-2'.

The outlook on both long-term ratings is negative.

Read more: Russian officials have expressed the need to establish a domestic credit rating agency>>>

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