RU bonds downgraded 6 notches to pure junk status - Fitch says default imminent

[hal]

https://www.reuters.com/markets/europe/f...2022-03-08

Fitch on Tuesday downgraded Russia's sovereign rating by six notches further into the junk territory to C from B, saying a default is imminent as sanctions and trade restrictions have undermined its willingness to service debt.

The country's financial markets have been thrown into a turmoil by Western sanctions after it invaded Ukraine, raising significant concerns over its ability and willingness to service debt.

Morgan Stanley pegs that date at April 15 https://fortune.com/2022/03/08/morgan-st...venezuela/)

[Racer X]

If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.

[gadje]

What are the consequences if Russia defaults?

RUB lost 42% in on month

https://www.google.com/finance/quote/RUB-USD?window=1M

[Racer X]

We could buy all their nukes in exchange for food?

[SteveG]

1 ruble=$.0078

[gadje]

1 ruble=$.0074

[cbelt3]

Racer X wrote:
If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.

Ukrainian farmers are already driving away with tanks and armored vehicles...

[pdq]

In the dead-tree paper today, they quoted two military guys as saying essentially, well, now we’ve gotten a look at the enemy team, and it turns out they sure weren’t nearly as capable as we thought.

They still think that sheer numbers will “win”, but that for all his trouble, Putin will face an endless, bloody Ukrainian insurgency if he does.

[hal]

cbelt3 wrote:
[quote=Racer X]
If they start defaulting on loans, what is going to get repossessed? Pretty sure that will cause a temper tantrum.

Ukrainian farmers are already driving away with tanks and armored vehicles...
I've read that Ukrainian farmers are now the 6th largest military on the planet