Ukraine war: Moody’s threatens to downgrade Putin to junk level

Rating agency Moody’s is threatening to downgrade Russia’s credit rating to junk. There are “serious concerns” about whether Russia will be able to cushion the impact of sanctions on its economy, budget and financial system, Moody’s said on Friday. At present, Russia still has a rating of “Baa3”, which means that the bonds are one notch above the speculative range.