Russian Government And Companies Facing $150 Billion Default Nightmare

Russia Is Spiraling Toward a $150 Billion Default Nightmare  

Bloomberg: Russia Is Spiraling Toward a $150 Billion Default Nightmare 

(Bloomberg) -- Russia’s economy is fraying, its currency has collapsed, and its debt is junk. Next up is a potential default that could cost investors billions and shut the country out of most funding markets. 

Warning lights are flashing as the government kickstarts the process of paying $117 million in interest on dollar bonds Wednesday, a key moment for debt holders who’ve already seen the value of their investments plunge since Russia invaded Ukraine last month. 

The government says that all debt will be serviced, though it will happen in rubles as long as sanctions — imposed because of the war — don’t allow dollar settlements. Failure to pay, or paying in local currency instead of dollars, would start the clock ticking on a potential wave of defaults on about $150 billion in foreign-currency debt owed by both the government and Russian companies including Gazprom, Lukoil and Sberbank. 

Read more .... 

 Russian Government And Companies Facing $150 Billion Default Nightmare  

Russia to 'Default' If Dollar Coupons Paid in Rubles, Fitch Says -- Bloomberg  

Russia rouble payment of USD coupons would be a sovereign default -Fitch -- Reuters  

Here’s a list of Russia’s upcoming debt payments -- CNBC  

Russia could be about to default on its debt: Here’s what you need to know -- CNBC 

EXPLAINER: What would a Russian bond default mean? -- AP  

What Russia’s looming debt default means for global economy -- NYPost  

As Russia nears a debt default, talk now turns to global contagion -- CNBC

from War News Updates https://ift.tt/Pin1S2Z
via IFTTT