Read the rest here.Fitch has downgraded Russia's credit rating and painted a horrific picture of a struggling economy rocked by a collapsing rouble, falling oil prices, high inflation and declining international reserves.
The ratings agency cut the country to BBB- from BBB with a negative outlook, meaning further downgrades are possible.
But it was the language Fitch used in its reasoning that was most shocking.
http://www.telegraph.co.uk/finance/econ ... ating.html
Russian bonds are one short step from being downgraded to "junk."