S&P downgraded the credit ratings of Gazprom, Rosneft and Russian Railways

The rating agency S&P Global Ratings downgraded the long-term credit ratings in national and foreign currencies of more than 50 Russian companies to categories C and CCC-, including Russian Railways, Rosneft, Gazprom, Raiffeisenbank, MegaFon and others. The list is published on the agency's website.

In addition, Moscow's credit rating was downgraded from BBB- to CCC- and included in the list for review with the possibility of downgrading.

Earlier, on March 4, the agency downgraded Russia's long-term foreign currency credit rating by eight notches at once - from BB+ to CCC-, while the national currency rating also deteriorated, dropping from BBB- to CCC-. S&P explained this decision by the international sanctions imposed against Russia, which affected, among other things, the reserves of the Russian Central Bank.

The Russian government, the agency suggested, "imposed capital controls" to mitigate the effect of the restrictions, but they could limit foreign holders of government bonds from receiving payments and interest on time, S&P concluded, noting that they could soon downgrade Russia's credit rating again. .