Moody’s downgraded the ratings of 11 regions of Russia, 4 cities and 3 state-owned enterprises – RIA Novosti

Moody's downgraded the ratings of 11 regions of Russia, 4 cities and 3 state-owned enterprises – RIA Novosti

© AP Photo / Alexander Zemlianichenko

MOSCOW, February 25 – RIA Novosti. The international rating agency Moodys downgraded the ratings of 11 Russian regions, four cities and three issuers associated with the government, and put them in the direction of further ratings downgrade, according to a press release from the agency.

According to the press release, these rating actions are due to a decrease in Russia’s sovereign rating to Ba1 from Baa3 speculative .

In particular, the rating of Moscow and St. Petersburg has been downgraded from Baa3 to Ba1 with a negative outlook.

What is a credit rating

A credit rating is an independent assessment of one or other credit rating agency of the issuer, based on which market participants can make informed financial decisions. Reasons for change in credit ratings are very diverse. Some are associated with changes in general economic and business environment, others are more narrow and is determined by the circumstances affecting a particular industry. Read more in Help RIA Novosti “Credit rating and global rating agencies” & gt; & gt;