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Russian government bonds downgraded to "speculative" by Moody's

Moody's Investors Service, a U.S. rating agency, announced on June 3 a downgrade of Russian government bonds. The long-term issuer rating in both local currency and foreign currency was lowered six levels from "Baa3" (equivalent to triple-B minus), which is considered investment grade, to "B3" (equivalent to single-B minus), which is a speculative level. The rating will continue to be downgraded on the grounds that the economic sanctions have increased the risk of Russia's debt repayment.

Nihon Keizai Shimbun Reuters.