S&P decreased the credit rating of the Crimea

S&P decreased the credit rating of the Crimea

The minister of information and mass communications of the Crimean Republic Dmitry Polonsky told the agency Kriminform that Simferopol regards lowering of the credit rating of the Crimea by the agency S&P as manifestation of information war started against new entity of Russia.

According to him, "this is one of the episodes of 'serial' information war, which was started against the Crimea and Russia".

He has reminded that the Crimea is already a part of Russia, the economy of which is stably developing. Polonsky expressed bewilderment with the rating agencies' measuring the rating of a separate entity of the federation without considering the situation in the country as a whole. "I would advise the employees of rating agencies to study the situation in the other countries, for example, in Ukraine, which already went beyond the pre-default state," emphasized Polonsky.

He has also added that the evaluation of the Crimea's rating "bears no economic component, but is politically motivated".

The international rating agency Standard & Poor's has earlier lowered the long-term credit rating of the issuer "Crimea" from "CCC" default level "D" because it on March 21 it missed the coupon payment of 4.8 million hryvnas on the bonds, issued for 133 million hryvnas.

"Considering the missed payment, we regard the Crimean government as currently unable to meet its debt obligations," notes the rating agency.

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