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S&P downgrades Russia's rating closer to debt default.

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The rating agency lowered Russia's rating from CCC- to CC as Russia struggles to pay its debts on its Eurobonds. Sanctions have reduced the country's available foreign exchange reserves and restricted its access to the global financial system.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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