rating agency S&P Global Ratings announced Monday night that it will “withdraw all of its ongoing ratings” by April 15 on Russia and its companies, in accordance with European Union requirements, according to a statement.
“On March 15, 2022, the European Union (EU) announced a ban on providing ratings to legal entities, entities or bodies established in Russia,” the statement said.
“Therefore, S&P Global Ratings will withdraw all of its ongoing ratings on the affected subjects before the April 15, 2022 deadline imposed by the EU“, he added.
S&P Global Ratings is the first of the three major financial rating agencies to announce the withdrawal of its ratings.
S&P Global Ratings suspended its business operations in Russia on March 9.