Moody’s downgraded the outlook for the ratings of Italy, Slovakia and the Czech Republic

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    The international rating agency Moody’s changed the outlook for the rating of the economy Italy, Slovakia and Czech Republic from stable to negative. The long-term issuer ratings of the three countries in foreign and national currencies were confirmed at the previous levels – “Baa3”, “A2” and “Aa3”, respectively.

    The agency attributed the deterioration in the rating forecasts of the Czech Republic and Slovakia to their dependence on Russian gas, the supply of which has decreased, which has an impact on the economies of the countries. Moody’s justified the change in Italy’s rating outlook due to the economic consequences of the Russian military operation in Ukraine.

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    At the end of June, Moody’s announced Russia’s default on Eurobonds. The Central Bank (CB) of the Russian Federation called the reports of a default in Russia “assessments of individual experts.” The first deputy chairman of the Central Bank, Vladimir Chistyukhin, blamed the Western countries for the fact that they “had a hand in breaking down the traditional channels for fulfilling obligations under Eurobonds.”

    About payments on Eurobonds in rubles – in the publication “Kommersant” “External debt will be calculated at the internal rate.”

    Laura Keffer

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