S&P Global Ratings lowers its rating of Russian foreign obligations to "SD" (selective default) since the Russian government decided to use rubles to pay off its bondholders instead of using U.S. dollars as stipulated. However, S&P expects that Russia will still meet its other payment obligations.
S&P Global Ratings lowers its rating of Russian obligations to "SD" (selective default), saying that Russia is very unlikely to pay out external debt coupons in US dollars and will instead pay them out in rubles, which is in breach of the bond terms. However, S&P expects that Russia will still meet its other payment obligations.
S&P Global Ratings lowers its rating of Russian foreignobligations to "SD" (selective default) since the Russiangovernmentdecidedtouserubles to pay offitsbondholdersinstead ofusing U.S. dollars as stipulated. However, S&P expects that Russia will still meet its other payment obligations.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6HSUBGJJ7NNFXMEGBD2Y4I3GLU.jpg "S&P cuts Russia's foreign currency rating to 'selective default' © Reuters")