The reduction of Russia's investment rating
The Standard&Poor’s rating agency has lowered the sovereign rating of Russia from the investment BBB- to speculative BB+, with “negative” forecast.
S&P finds the Russian financial system weakening and the Central Bank of the country being unable to fully implement its monetary policy. They believe that CB will have to face more and more difficult monetary decisions in order to support the stable GDP growth. Such problems have appeared due to the inflation results of the decrease of the exchange rate and sanctions imposed by the western countries, as well as countersanctions, introduced by Russia.
Source: https://www.standardandpoors.com/prot/ratings/articles/en/us?articleType=HTML&assetID=1245380237126
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