S&P Downgrades Russia’s Outlook To Negative

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March 20, 2014 1:43 p.m.

Standard & Poors, one of the biggest credit ratings agencies, announced Thursday it was downgrading Russia’s outlook to negative from stable, Bloomberg reported.

The move comes after the U.S. and Russia traded escalating sanctions on top government officials over the invasion and annexation of the Ukrainian Crimea.

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