RIYADH: Global rating agency S&P is withdrawing all its credit ratings for Russian companies after a ban set by the European Union, Bloomberg reported.
Following the Russian invasion of Ukraine, the EU imposed a deadline of Apr. 15 for all companies to pull out their credit grades for Russian-based firms.
The rating of Russia's sovereign wealth fund by S&P is currently CC – two levels above default, after being downgraded recently amid the ongoing conflict.
