S&P Global withdraws rating of Russian financial institutions

Organ credit ratings S&P Global Ratings recently announced that they will withdraw their ratings for all Russian financial institutions by April 15.

S&P Global Ratings said that the credit rating agency has stepped up the “boycott” of Russia, after the European Union (EU) announced a ban on providing credit ratings to legal entities, organizations or Financial agency established in Russia.

Earlier this month, credit rating agencies Moody’s and Fitch also suspended commercial activities in Russia. The moves are part of a “wave” of companies leaving Russia, as Western nations tighten economic sanctions on Russia over its conflict with Ukraine.

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