S&P cuts the ratings of Russia and Ukraine

The S&P agency cuts Russia's rating to BB + and puts it under observation with negative implications.

"We believe that the announced sanctions could have significant direct and indirect effects on economic activity, confidence and financial stability. There is high uncertainty on the evolution of the geopolitical conflict and further sanctions, but also on the economic and financial repercussions. existing restrictions, "says S&P.

    S&P cuts Ukraine's rating to B- and puts it under scrutiny with negative implications, effectively warning that further downgrades are possible.

"The Russian military assault poses risks to Ukrainian economic growth, financial stability and its public finances," S&P said in a note, noting that "the negative creditwatch indicates that we could cut the rating if the uncertainties related to the military conflict significantly weaken. the liquidity, financial system or administrative capacity of the Government of Ukraine "