Russia - Feb 21

According to the Russian Finance Minister Anton Siluanov, "Moody's Investors Service's downgrade of Russia's sovereign rating to Ba1 from Baa3 is based on factors of a political character."  Moody's sited "the impact from the Ukraine crisis as well as the steep fall in oil prices and the ruble exchange" as motivation for its investment downgrade.  The Russian Finance Minister protested against the lowering of the rating claiming a "whole range of positive factors such as large international reserves, low debt, and a current account surplus." Source: Moscow Times