Russia, Ukraine credit ratings put on review for downgrade by Moody's

Russia’s credit rating was cut to junk by S&P Global Ratings, which joined Fitch Ratings in downgrading Ukraine amid an escalation of conflict in the region.
 

S&P lowered Russia to BB+, below investment grade, from BBB- late Friday and warned of further cuts, citing the “strong” international sanctions slapped on the country following its invasion of Ukraine. S&P also lowered Ukraine to B- from B. 

Both countries were also put on review for downgrade at Moody’s Investors Service, which rates Russia Baa3, one notch above junk, and Ukraine at B3, six steps below investment grade. Fitch took Ukraine’s level down to