Posted on 03/06/2022 12:07:35 PM PST by ChicagoConservative27
Russia suffered another body blow as its credit rating fell once again, this time hitting the second-lowest rung and putting the country in danger of default.
Rating agency Moody’s set Russia’s rating to Ca, which indicates "severe concerns around Russia's willingness and ability to pay its debt obligations."
(Excerpt) Read more at foxbusiness.com ...
Moving that finger a little closer to the red button.
Russia spent the last decade or so paying down its debt and building up reserves. They have prepared for this day for many years.
“The volume of the national debt in Russia has been increasing rather consistently over the observed period. As of January 1, 2022, the national debt exceeded 16.4 trillion Russian rubles, increasing by over 299 billion Russian rubles since July 1 of the previous year.”
https://www.statista.com/statistics/1187790/national-debt-in-russia/
Either you or sources online are incorrect.
Russian sovereign debt is $56,7 billion, Russian reserves are $640 billion. This is all you need to know about the reliability of rating agencies. There might be a sort technical “default” for bond holders who are in countries who slapped sanctions on Russia and banned transactions, but in reality they are anything but. Russian centbank is still paying coupons, but in roubles (due to a Western ban on dollar conversion) they can retrieve after sanctions are lifted.
Fake news.
Oh yeah, you are Russian. After economic WWIII was launched last week you gonna make sure to send in a payment? What they gonna do? Cut you off from swift, mastercard, all trade, all foreign banking etc?
Adorable how Moodys thinks Russia will care.
See post 4.
I’ll bet Soros and the bloodsuckers are snapping up Russian debt cheap.
But who would sell at these prices?
Well, when they are made to not be able to pay, with a simple form of such actions being done by Visa and Mastercard, among others, what does this really mean?
“Russian centbank is still paying coupons, but in roubles”
great deal for the russkies as roubles are nearly worthless now, awful deal for the bond holders however ...
For all the doomsday talk it is not as bad as GBP and Brexit so far.
That is because of currency fluctuations.
A trillion dollars in fluctuations?
Trillion dollars is definitely not a scope of the evaluation of the Russian debt.
You’re right, that number was in rubles. The linked source says it’s $149 billion.
One must always ask the question...how is getting filthy rich off of what's going - and what hand did they have in encouraging the conflict to begin with?
*who is getting filthy rich...
Bingo!
Ding! Ding! Ding! We have a winner! Give the man a prize!
Kind of like the manufactured debt “crisis” in 2007-2008.
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