12 Jan 2015
Fitch cuts Russia’s sovereign rating – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that Fitch cut Russia’s sovereign rating to BBB- with negative outlook, blaming the decline in oil prices and the steep fall in RUB.
Key Quotes
“Over the weekend, Fitch cut Russia's sovereign rating by one notch to BBB- with negative outlook, citing sharp falls in oil prices and the ruble, with a steep rise in interest rates.”
“Fitch noted growth may not return in Russia until 2017.”
“Crude oil continued to fall in today's session. WTI crude dropped to as low as $47.50/bbl, while Brent oil at just above $49/bbl.”
Key Quotes
“Over the weekend, Fitch cut Russia's sovereign rating by one notch to BBB- with negative outlook, citing sharp falls in oil prices and the ruble, with a steep rise in interest rates.”
“Fitch noted growth may not return in Russia until 2017.”
“Crude oil continued to fall in today's session. WTI crude dropped to as low as $47.50/bbl, while Brent oil at just above $49/bbl.”