S&P strips Russia of investment grade rating

Standard and Poor`s stripped Russia on Monday of its investment-grade rating, cutting it by one notch to `BB+` into speculative territory with a warning that growth prospects have weakened.

Paris: Standard and Poor`s stripped Russia on Monday of its investment-grade rating, cutting it by one notch to `BB+` into speculative territory with a warning that growth prospects have weakened.

"The downgrade reflects our view that Russia`s monetary policy flexibility has become more limited and its economic growth prospects have weakened," the ratings agency said in a statement.

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