MCO Moodys Corp

By Josh Beckerman

Moody's Corp. said Moody's Investors Service intends to withdraw its credit ratings on Russian entities, following similar announcements by S&P Global Ratings and Fitch Ratings.

In early March, all three firms suspended commercial operations in Russia and said they planned to support continued coverage from outside of Russia. S&P Global said March 9 that it would "continue to play our essential role in global markets by providing critical information on Russian markets for our customers to make important decisions."

However, a new round of European Union sanctions last week included a ban on the rating of Russia and Russian companies by EU credit rating firms and provision of rating services to Russian clients. According to S&P, the EU set an April 15 deadline.

Ratings firms were active after Russia invaded Ukraine, downgrading Russia and Russian companies, as well as ratings for Belarus, discussing issues including the effects of sanctions and prospects for debt payments.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 24, 2022 18:54 ET (22:54 GMT)

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