All credit ratings given to Russian companies and banks will now be at the discretion of the Board of Directors of the Bank, according to a press statement Monday. The regulator will assess whether or not the ratings made after March are accurate.
The decision comes after Fitch and Moody’s downgraded Russian sovereign debt to just above junk status. Standard & Poor’s will decide whether it cuts Russian debt to junk level by the end of January.
Ratings cuts by the international agencies have increased since Crimea rejoined Russia in mid-March; at the same time the West began to levy sanctions against Moscow .... http://rt.com/business
