A committee made up of representatives of major financial institutions around the world has a potential default on Russia's payment of interest on dollar-denominated government bonds due on the 4th of this month in its own currency, the ruble. We have determined that we are in default.
The Russian government has announced that the ruble has paid interest and redeemed dollar-denominated government bonds due on the 4th of this month as the United States and Europe impose severe economic sanctions such as a freeze on foreign exchange reserves.
Regarding this, the "Credit Derivatives Decision Committee" made up of representatives of major financial institutions around the world decided on the 20th that it would be a potential default = default.
There is a 30-day grace period for interest payments on government bonds this time, and if there is no payment in dollars by then, it is expected to be judged as the default.
S & P Global Ratings, a major rating agency, confirmed on the 8th of this month that it had fallen into a partial default over payments in the ruble, and immediately after that, it withdrew its rating in order to respond to EU-European Union sanctions on Russia. I did.
"Moody's" has already withdrawn its rating, but has indicated that it may become the default if the grace period expires.