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Fitch withdraws Russia's ratings to comply with EU sanctions

Stock Markets Mar 25, 2022 05:40PM ET
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© Reuters. Word "Sanctions" is displayed on EU and Russian flags in this illustration taken, February 27, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - Fitch said on Friday it has withdrawn Russia's ratings to comply with European Union sanctions, after the rating agency downgraded the country's rating to "junk" territory earlier this month.

Aggressive sanctions against Russia over its invasion of Ukraine have targeted several banks and businesses, crippling the country's economy and prompting the Russian rouble's free fall.

Investors and experts are also concerned Russia could be plunged into a debt default, as its economic institutions face unprecedented sanctions.

Earlier this week, Fitch also said it would withdraw ratings on all Russian entities and their subsidiaries before April 15, the deadline set by the EU.

Fitch withdraws Russia's ratings to comply with EU sanctions
 

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Comments (1)
Joseph Pino
Joseph Pino Mar 25, 2022 5:53PM ET
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Fitch ratings are worthless anyways. This shouldnt even be an article.
Lashawn Williams
Lashawn Williams Mar 25, 2022 5:53PM ET
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ok try to get a loan
 
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