This tag is associated with 3 posts

Banking Crisis In Russia Will Be Massive — Sberbank CEO

The banking crisis in Russia in the current economic situation will be massive, CEO of Russia’s largest lender Sberbank German Gref said on Wednesday. “Of course, it’s obvious that the banking crisis will be most massive,” he said on the sidelines of the annual Gaidar Forum. Since mid-2014 Russian banks have publicly announced they are … Continue reading

Fitch Downgrades Russia’s Credit Rating To 1 Notch Over Junk Level

The international ratings agency has knocked Russia’s credit rating down a peg, while warning that ‘growth may not return until 2017,’ as the national economy struggles amid sanctions and tumbling oil prices. Fitch Ratings Inc, with dual headquarters in New York and London, downgraded Russia’s credit rating to BBB- from BBB, which is just one … Continue reading

Russia ETF Falls In After-Hours Trade On Fitch Downgrade

By Tom Lydon The Market Vectors Russia ETF (NYSEArca: RSX) lost about three-quarters of a percent early in Friday’s after-hours session after Fitch Ratings lowered Russia’s sovereign credit rating to BBB-, the lowest investment grade, with a negative outlook. Fitch previously rated Russian sovereign debt BBB. “‘BBB’ ratings indicate that expectations of default risk are … Continue reading

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