Russian Stocks, Bonds, Ruble Dive on S&P Rate Cut

I would rather rating agencies not be political tools.

The Russian Moscow’s MICEX stock index fell by 1.5% after S&P cut its rating on Russia one level, to BBB-minus from BBB, citing large capital outflows in the first quarter.

The ratings firm kept its outlook on the country negative, where it has been since March 20, when S&P firm lowered it from stable in light of heightened tension in Ukraine and the prospect of economic sanctions.

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