S&P Global Ratings has announced plans to withdraw all of its outstanding ratings on Russian firms, in line with new regulations imposed by the European Union (EU).
Earlier this month, S&P announced the suspension of its commercial operations in Russia, in response to the country’s widely-condemned invasion of Ukraine.
Following that, on March 15, 2022, the EU announced a ban on providing credit ratings to legal persons, entities, or bodies established in Russia.
