Paris (awp/afp) – The rating agency S&P Global Ratings announced Monday evening that it will “withdraw all its current ratings” before April 15, concerning Russia and its companies in accordance with the requirements of the European Union, according to a press release.
“On March 15, 2022, the European Union (EU) announced a ban on providing ratings to legal persons, entities or bodies established in Russia,” the statement recalls.
“As a result, S&P Global Ratings will withdraw all its current ratings on the relevant subjects before April 15, 2022, the deadline imposed by the EU”, it added.
S&P Global Ratings is the first of the three major financial rating agencies to announce that it is withdrawing its ratings.
S&P Global Ratings suspended business operations in Russia on March 9.
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