Moody’s to withdraw credit ratings on Russian entities

(Reuters) – Moody’s Buyers Service (MIS) stated on Thursday it intends to withdraw its credit score scores on Russian entities, following comparable strikes by Fitch and S&P World Scores.

The ranking company’s guardian agency, Moody’s Corp, suspended business operations in Russia earlier this month over Moscow’s invasion of Ukraine.

The European Union (EU) on March 15 banned high credit standing companies from ranking Russia and the nation’s firms as a part of its newest sanctions bundle, to ramp up financial stress on the nation.

(Reporting by Manojna Maddipatla in Bengaluru; Enhancing by Devika Syamnath)