Oth­ers who were down­graded

CityPress - - Business -

Ar­gentina is at the bot­tom of the rat­ings heap and de­faulted in 2014 for the sec­ond time since 2001. In 2014 they re­ceived a B– be­cause of $15 bil­lion in global bonds

S&P down­graded Rus­sia to junk sta­tus for the first time in a decade in Jan­uary 2015. They blamed a com­bi­na­tion of fac­tors for the down­grade, in­clud­ing col­laps­ing oil prices, the rou­ble’s sharp fall, and sanc­tions im­posed by the West

With a B rat­ing from S&P, Greece has a lower credit rat­ing than Rus­sia. Its poor credit rat­ing was due to a poor eco­nomic and po­lit­i­cal in­sta­bil­ity

In 2015, S&P down­graded Brazil’s credit rat­ing to junk grade. This ham­pered then pres­i­dent Dilma Rouss­eff’s ef­forts to re­gain in­vestors’ trust and pull Latin Amer­ica’s largest econ­omy out of re­ces­sion

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