Moody's Downgrades Russia's Rating to Lowest Investment Grade after Slump in Oil Prices

ISTANBUL--January 20, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Russia's credit rating was cut to the lowest investment grade by Moody's Investors Service (New York, New York), as plunging oil prices and the worst currency crisis since 1998 drag on growth. Moody's lowered the country to Baa3, one step above junk, from Baa2. The rating is on review for a further reduction. The credit ratings grade matched those of Standard & Poor's and Fitch Ratings, as the country's economic outlook worsened under the pressure of Western sanctions and declining oil prices.

Within this article: Details on the economic fallout for Russia.