Moody’s warns of Russian default ...News

Russia Today - Economy
Moody’s warns of Russian default
source : Russia Today ( News ) () 20
The rating agency views payment on dollar bonds in rubles as nonpayment US credit rating agency Moody’s has raised a red flag over Russia’s sovereign debt, saying the nation may face its first major default on foreign bonds since the years following the Bolshevik Revolution of 1917. The warning comes days after Russia made a payment on two sovereign bonds, maturing in 2022 and 2042, in rubles rather than dollars as mandated by the terms of the securities. This was after the US blocked attempts by Russia to pay the debt in dollars held in American bank accounts. Russia “therefore may be considered [in] default unde

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