{"id":4368,"date":"2015-01-11T07:40:39","date_gmt":"2015-01-11T12:40:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4368"},"modified":"2015-01-11T07:40:39","modified_gmt":"2015-01-11T12:40:39","slug":"russia-cut-to-one-step-above-junk-by-fitch-on-oil-sanctions","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4368","title":{"rendered":"Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions"},"content":{"rendered":"<p><a href=\"http:\/\/topics.bloomberg.com\/russia\/\"><span class=\"Apple-style-span\">Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions<\/span><\/a><\/p>\n<p><a href=\"http:\/\/topics.bloomberg.com\/russia\/\">Russia<\/a>\u2019s credit rating was cut to the lowest investment grade by Fitch Ratings after plummeting oil prices and the conflict over Ukraine triggered the worst currency crisis since the country\u2019s 1998 default.<\/p>\n<p>Fitch, which last downgraded Russia in 2009, cut the sovereign one step to BBB-, according to a statement issued Friday in New York. The grade, on par with India and Turkey, has a negative outlook.<\/p>\n<p>\u201cThe economic outlook has deteriorated significantly since mid-2014 following sharp falls in the oil price and the ruble, coupled with a steep rise in interest rates,\u201d Fitch said in the statement. \u201cPlunging oil prices have exposed the close link between growth and oil.\u201d<\/p>\n<p>The world\u2019s biggest energy exporter is on the brink of a recession after crude fell more than 50 percent since June and the U.S. and its allies imposed sanctions following President Vladimir Putin\u2019s annexation of Crimea from Ukraine in March. The penalties have locked Russian corporate borrowers out of international debt markets and curbed investor appetite for the ruble, stocks and bonds.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions Russia\u2019s credit rating was cut to the lowest investment grade by Fitch Ratings after plummeting oil prices and the conflict over Ukraine triggered the worst currency crisis since the country\u2019s 1998 default. Fitch, which last downgraded Russia in 2009, cut the sovereign one [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[177,263,2577,1775,694,1109,821,857],"class_list":["post-4368","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit-rating","tag-energy","tag-fitch-ratings","tag-oil-price-collapse","tag-russia","tag-sanctions","tag-ukraine","tag-vladimir-putin"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4368"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4368\/revisions"}],"predecessor-version":[{"id":4369,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4368\/revisions\/4369"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}