What Will Happen if Russia Defaults on Its Debt?

The ultimate arbiter of a sovereign default is an open question but markets may have the final word.

#credit-and-debt, #credit-ratings-and-credit-rating-agencies, #economic-conditions-and-trends, #embargoes-and-sanctions, #fitch-ratings, #moodys-investors-service-inc, #office-of-foreign-assets-control-united-states-treasury, #russian-invasion-of-ukraine-2022

Russia appears to have avoided default as it makes a $117 million bond payment.

Sanctions have isolated the country financially, driven down the value of the ruble and cut off Moscow’s access to about half its foreign currency reserves.

#citigroup-inc, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #embargoes-and-sanctions, #fitch-ratings, #foreign-investments, #russia

Dollars or Rubles? Russian Debt Payments Are Due, and Uncertain.

Citing sanctions, the Russian government warned it might pay foreign debt obligations in rubles. Credit rating agencies say a default is imminent.

#blackrock-inc, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #currency, #embargoes-and-sanctions, #european-central-bank, #fitch-ratings, #government-bonds, #jpmorgan-chasecompany, #politics-and-government, #ruble-currency, #russia, #russian-invasion-of-ukraine-2022, #siluanovanton, #us-dollar-currency, #vanguard-group-inc

China Evergrande Defaults on Its Debt, Fitch Says

Fitch’s announcement spells out a reality already accepted by investors: The company can’t pay its bills and is being restructured under Beijing’s eye.

#china, #china-evergrande-group, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #fitch-ratings, #stocks-and-bonds

‘Fiscal Justice Ratings’ Fight Police Brutality With Finance

A new project aims to incorporate the cost of lawsuit settlements and inequality when rating municipal bonds.

#credit-ratings-and-credit-rating-agencies, #municipal-bonds, #police-brutality-misconduct-and-shootings, #saturdaynewsletter

We’re Burying Our Kids in Debt (Just Not the Way You Think)

Debt-financing public education has not only failed to provide schools with sufficient funds. It has also imposed long-term costs.

#credit-and-debt, #credit-ratings-and-credit-rating-agencies, #education-k-12, #income-inequality, #municipal-bonds

How Debt and Climate Change Pose a ‘Systemic Risk to the Global Economy’

With dozens of countries struggling to manage both staggering debt and mounting climate disasters, some financial leaders are debating green debt relief.

#belize, #coast-erosion, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #disasters-and-emergencies, #drought, #fiji, #global-warming, #greenhouse-gas-emissions, #group-of-twenty, #hurricanes-and-tropical-storms, #international-monetary-fund, #mozambique, #third-world-and-developing-countries, #united-nations-framework-convention-on-climate-change, #world-bank

As Virus Hobbles Economy, Companies Race to Tap Credit and Raise Cash

The clamor for corporate funding is raising concerns about a financial reckoning reminiscent of 2008.

#bank-of-america-corporation, #banking-and-financial-institutions, #corporations, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #jpmorgan-chasecompany, #layoffs-and-job-reductions, #united-states-economy, #yum-brands-inc