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Moody's global agency announced the downgrade of Russia's credit ratings, as a result of Moscow's latest and continuing invasion of Ukrainian territory.
The agency said it had downgraded Russia's long-term and super-secured credit rating to B3 from Baa3.
The agency attributed this reduction to the Russian invasion of Ukraine and the imposition of harsh sanctions by Western countries on Moscow.
Moody's indicated that the ratings were still under review for further downgrades.
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