ANKARA
Ratings agency Standard & Poor's has placed Tuesday Russia on CreditWatch Negative.
“The CreditWatch placement stems from what we view as a rapid deterioration of Russia's monetary flexibility and the impact of the weakening economy on its financial system,” the agency said in a statement.
The agency announced that it had placed its 'BBB-/A-3' long- and short-term foreign-currency sovereign ratings and 'BBB/A-2' local-currency sovereign credit ratings on Russia on CreditWatch with negative implications.
“We expect to resolve the CreditWatch upon the conclusion of our review, which we expect by mid-January,” Standard & Poor's said.
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