Fitch, one of the world's three largest credit rating agencies, has further downgraded Russia's credit rating, which faces ultra-high-strength sanctions from the international community.
This brought Russia down 12 places in Fitch's credit rating within six days.
Fitch announced yesterday (8th) that it would downgrade Russia's long-term credit rating by six levels from 'B' to 'C'.
"The C rating reflects our view that national bankruptcy is imminent," Fitch said.
Below the C rating in Fitch's credit rating system, there are only 'DDD', 'DD' and 'D', which usually mean bankruptcy.
This measure came just six days after Russia's credit rating was downgraded from 'BBB' to 'B' by 6 places on the 2nd and placed on 'negative observation'.
At that time, Fitch said that it was the first time since Korea at the time of the 1997 IMF bailout that the national credit rating was lowered by six places at a time.
(Photo = Yonhap News)