UPDATE: Russia May be Cut to Junk by S&P (RSX) (RUSS)

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Moody's Places 45 non-Financial Russian Companies on Review for Downgrade (RSX) (RUSS)

December 23, 2014 2:48 PM EST

Moody's Investors Service has placed the ratings of 45 Russian non-financial corporates on review for downgrade.

The decision to place 45 Russian non-financial corporates and their supported subsidiaries on review for downgrade reflects the ongoing severe and rapid deterioration in the operating environment in Russia and the heightened risk of a more prolonged and more acute economic downturn than originally anticipated.

Today's actions follows Moody's decision on Monday 22 December to lower Russia's foreign currency bond ceiling to Baa2 from A3, foreign currency deposit ceiling to Ba1 from Baa2 and local currency bond and deposit ceilings to Baa1 from... More