LEE KRAMER'S ROOM: With Views

[PegnVA]

S&P DOWNGRADE INDICATES RUSSIA HEADED FOR HISTORIC DEFAULT
Associated Press
April 9, 2022

The credit ratings agency Standard & Poor's had downgraded its assessment of Russia's ability to repay foreign debt, signaling rising prospects that Moscow will soon default on external loans for the first time in more than a century.

The country has not defaulted on foreign debt since the Bolshevik Revolution in 1917, when the Soviet Union emerged. Even in the late 1990's, following the Soviet Union's demise, Russia was able to continue to pay foreign debts with the help of international aid. It did default of domestic debt, however.

https://www.marketwatch.com/story/s-p-downgrade-indicates-russia-headed-for-historic-default-01649525295?siteid=yhoof2