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RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: hal
Date: March 08, 2022 04:58PM
[www.reuters.com]

Fitch on Tuesday downgraded Russia's sovereign rating by six notches further into the junk territory to C from B, saying a default is imminent as sanctions and trade restrictions have undermined its willingness to service debt.

The country's financial markets have been thrown into a turmoil by Western sanctions after it invaded Ukraine, raising significant concerns over its ability and willingness to service debt.


Morgan Stanley pegs that date at April 15 [fortune.com])
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: Racer X
Date: March 08, 2022 05:56PM
If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.



********************************************
“A sword never kills anybody; it is a tool in the killer's hand.” Seneca the Younger

The police have no duty to respond. See Castle Rock v. Gonzales, 545 U.S. 748 (2005) or Warren v. District of Columbia[1] (444 A.2d. 1, D.C. Ct. of Ap. 1981)

Judge Lee wrote that “we cannot jettison our constitutional rights, even if the goal behind a law is laudable." 9th Circuit Court of Appeals

[www.youtube.com]
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: gadje
Date: March 08, 2022 07:04PM
What are the consequences if Russia defaults?

RUB lost 42% in on month

[www.google.com]



Edited 1 time(s). Last edit at 03/08/2022 07:05PM by gadje.
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: Racer X
Date: March 08, 2022 09:04PM
We could buy all their nukes in exchange for food?



********************************************
“A sword never kills anybody; it is a tool in the killer's hand.” Seneca the Younger

The police have no duty to respond. See Castle Rock v. Gonzales, 545 U.S. 748 (2005) or Warren v. District of Columbia[1] (444 A.2d. 1, D.C. Ct. of Ap. 1981)

Judge Lee wrote that “we cannot jettison our constitutional rights, even if the goal behind a law is laudable." 9th Circuit Court of Appeals

[www.youtube.com]
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: Steve G.
Date: March 08, 2022 10:07PM
1 ruble=$.0078
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: gadje
Date: March 09, 2022 05:35AM
1 ruble=$.0074
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: cbelt3
Date: March 09, 2022 07:31AM
Quote
Racer X
If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.
Ukrainian farmers are already driving away with tanks and armored vehicles...
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: pdq
Date: March 09, 2022 07:49AM
In the dead-tree paper today, they quoted two military guys as saying essentially, well, now we’ve gotten a look at the enemy team, and it turns out they sure weren’t nearly as capable as we thought.

They still think that sheer numbers will “win”, but that for all his trouble, Putin will face an endless, bloody Ukrainian insurgency if he does.
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Re: RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent
Posted by: hal
Date: March 09, 2022 10:58AM
Quote
cbelt3
Quote
Racer X
If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.
Ukrainian farmers are already driving away with tanks and armored vehicles...

I've read that Ukrainian farmers are now the 6th largest military on the planet
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