Moody's downgrades Russia's rating to Baa2 from Baa1, outlook negative

The agency referred to the ongoing Ukraine crisis, international sanctions imposed on Russia, capital flight, and low oil prices.

Moody's Investors Service has downgraded the Russian government's rating to Baa2 from Baa1 with the negative outlook, the organization's website reported on Saturday morning.

The agency referred to the ongoing Ukraine crisis, international sanctions imposed on Russia, capital flight, and low oil prices as the key drivers for the downgrade and for maintaining the negative outlook.

Read more: Ruble devaluation compensates for loss of oil revenue

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