Russia downgraded by Bloomberg and Fitch

Russia downgraded: The cost of insuring Russia’s bonds against non-repayment for five years jumped 92 basis points this year to 568, making its debt the fifth-riskiest globally, above speculative-grade countries including Lebanon, Egypt and Portugal, according to data compiled by Bloomberg last week. The Fitch’s ratings agency has also  downgraded Russia’s long-term foreign and local currency Issuer Default Ratings (IDR) from  BBB to BBB-, the lowest possible investment grade in a move that a spokesman for the Russian government as “politically biased, not partner-like, and absolutely economically ungrounded.” rbth,