Russia outlook cut to negative by S&P on geopolitical risk
Mar 20, 2014 - 12:00 am GMT+3
Mar 20, 2014 12:00 am
MOSCOW – Standard & Poor's Ratings Services on Thursday lowered Russia's credit rating outlook to negative from stable and reaffirmed the country's 'BBB' foreign currency rating.
"In our view, heightened geopolitical risk and the prospect of U.S. and EU economic sanctions following Russia's incorporation of Crimea could reduce the flow of potential investment, trigger rising capital outflows, and further weaken Russia's already deteriorating economic performance," said S&P in a statement.
S&P also expects the U.S. and the European Union to introduce more sanctions against Russia in the future.