Another unwelcome economic development for Vladimir Putin: S&P just downgraded Russia to one notch above junk. It's now at BBB- vs. BBB previously. Why the downgrade? Basically because investor capital is fleeing the country, growth is slowing, and policymaking institutions are garbage. The announcement can be found here. Here's S&P's summary of the announcement: In our view, the large capital outflows from Russia in the first quarter of 2014 heighten the risk of a marked deterioration in external financing, either through a significant shift in foreign direct investments or portfolio equity investments.
S&p Slashes Russia To One Notch Above Junk
Joe Weisenthal, Business Insider
Fri, 04/25/2014 - 1:38am
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