Ukraine Cut to 'CCC-' by S&P, Outlook Negative (FXE) (UUP) Dec 19, 2014 11:52AM

(Updated - December 19, 2014 11:52 AM EST)

RATING ACTION

On Dec. 19, 2014, Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating on Ukraine to 'CCC-' from 'CCC', and its long- and short-term local currency ratings to 'CCC+/C' from 'B-/B'. At the same time, we affirmed the foreign currency short-term sovereign credit rating at 'C'. The outlook is negative.

We also lowered the Ukraine national scale rating to 'uaB+.

RATIONALE

We had... (continue reading...)


Ukraine Cut to 'CCC-' by S&P, Outlook Negative (FXE) (UUP) Dec 19, 2014 11:52AM

(Updated - December 19, 2014 11:52 AM EST)

RATING ACTION

On Dec. 19, 2014, Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating on Ukraine to 'CCC-' from 'CCC', and its long- and short-term local currency ratings to 'CCC+/C' from 'B-/B'. At the same time, we affirmed the foreign currency short-term sovereign credit rating at 'C'. The outlook is negative.

We also lowered the Ukraine national scale rating to 'uaB+.

RATIONALE

We had... (continue reading...)


Fitch Cuts Venezuela's IDR Three Notches to 'CCC' (ILF) Dec 18, 2014 11:19AM

Fitch Ratings has downgraded Venezuela's Long-term foreign and local currency Issuer Default Ratings (IDRs) from 'B' to 'CCC'. The issue ratings on Venezuela's senior unsecured foreign and local currency bonds are also downgraded from 'B' to 'CCC'. The Country Ceiling is downgraded from 'B' to 'CCC' and the Short-term foreign currency IDR from 'B' to 'C'.

KEY RATING DRIVERS

Venezuela's downgrade reflects the following key factors:

International oil prices have declined... (continue reading...)


Putin Sees Russia's Economic Troubles Lasting No More than Two Years (RSX) (RUSS) Dec 18, 2014 07:59AM

The ruble is showing more gains Thursday following an annual address issued by Russian president Vladimir Putin.

In part, Putin believes Russia's economic troubles will pass within two years and said the government and central bank are responding appropriately. If the situation is very bad, we will have to change our plans, cut some things, Putin noted.

Address the recent drop in the ruble, Putin said he thinks moves to ease banking regulations and encouraging exporters... (continue reading...)


Yellen says Russia spillovers to U.S. likely to be small - FOMC press conf. (RSX) Dec 17, 2014 03:23PM

Yellen says Russia spillovers to U.S. likely to be small, according to the post-FOMC press conference.


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