Fitch warns Russia debt default ‘imminent’ as more companies halt operations

Global businesses are retaliating as Russian forces press forward with their attacks on Ukraine. Joining the international chorus of outrage, the move by companies have pushed the Russian economy to new lows. McDonald’s, Starbucks and Coca-Cola have been among the…

Fitch warns Russia debt default 'imminent' as more companies halt operations

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Global businesses are retaliating as Russian forces press forward with their attacks on Ukraine. Joining the international chorus of outrage, the move by companies have pushed the Russian economy to new lows. McDonald’s, Starbucks and Coca-Cola have been among the latest to say they will temporarily stop doing business in Russia. Heineken has said it is stopping beer production and sales in the country. Meanwhile, ratings agency Fitch has downgraded Russia’s sovereign rating by six notches further into the junk territory.

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