{"id":583,"date":"2014-10-24T13:21:11","date_gmt":"2014-10-24T17:21:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=583"},"modified":"2014-10-24T13:21:11","modified_gmt":"2014-10-24T17:21:11","slug":"russian-credit-rating-slashed-economic-future-remains-dim","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=583","title":{"rendered":"Russian Credit Rating Slashed, Economic Future Remains Dim"},"content":{"rendered":"

Russian Credit Rating Slashed, Economic Future Remains Dim<\/a>.<\/p>\n

The struggling Russian economy was short on good news last week as Moody\u2019s Investors Serviceslashed<\/a>\u00a0the country\u2019s credit rating to its second lowest level, Baa2, citing the crisis in Ukraine and Western sanctions.<\/p>\n

The move follows similar ratings downgrades by Fitch Ratings Ltd and Standard & Poor\u2019s and reaffirms Russia\u2019s meager medium-term growth prospects. In the more immediate future, Russian equity markets remain a\u00a0risky<\/a>\u00a0play. Long term, the picture is less clear and Russia\u2019s vitally important energy industry is riddled with uncertainties.<\/p>\n

<\/span>Amid Western sanctions over Russia\u2019s actions in Ukraine, plummeting oil prices have contributed to the ruble\u2019s rapid decline \u2013 already down 19 percent on the year against the dollar. To date, Russia\u2019s central bank has\u00a0spent<\/a>approximately $60 billion to prop up the struggling currency. If commodity prices remain low for a prolonged period, Moody\u2019s has\u00a0warned<\/a>\u00a0that it could further downgrade Russia\u2019s rating, a step that former Finance Minister Alexei Kudrinviews<\/a>\u00a0as the end of the line for Russia\u2019s financial markets.<\/span><\/p>\n

…click on the link above to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Russian Credit Rating Slashed, Economic Future Remains Dim. The struggling Russian economy was short on good news last week as Moody\u2019s Investors Serviceslashed\u00a0the country\u2019s credit rating to its second lowest level, Baa2, citing the crisis in Ukraine and Western sanctions. The move follows similar ratings downgrades by Fitch Ratings Ltd and Standard & Poor\u2019s and […]<\/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":[2,3],"tags":[122,175,178,246,694],"class_list":["post-583","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-central-bank","tag-credit","tag-credit-rating-russia","tag-economy","tag-russia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/583","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=583"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/583\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}