Russia’s credit rating downgraded by S&P
标普下调俄罗斯信用评级

Credit ratings agency Standard & Poor's has cut Russia's rating to one notch above "junk" status. The agency downgraded Russia's rating to triple B minus, from triple B, while maintaining its negative prospects.

The move comes as foreign investors continue to take money out of the country amid tensions over the situation in Ukraine. S&P said the crisis could see additional outflows of both foreign and domestic capital from the Russia's economy.

The agency said this could further undermine already weakening growth prospects. It warned that further downgrades were possible if the West imposed tighter sanctions against Moscow. In the first three months of this year, foreign investors have withdrawn 63.7 billion US dollars from Russia, and economic growth has slowed significantly.