The international rating agency S\u0026P Global Ratings will withdraw the credit ratings of all Russian companies and organizations, the agency said in a statement..

Ratings will be withdrawn until April 15.

The corresponding decision was made against the backdrop of a ban imposed by the European Union on the assignment of ratings by EU credit rating agencies to Russia and Russian companies, as well as a ban on the provision of rating services to Russian clients..

“In light of this, S\u0026P Global Ratings is canceling all of its ratings on eligible issuers by April 15, 2022, the deadline set by the EU,” the company said..

Recall that this measure was applied to Russia as part of the fourth package of EU sanctions..

A credit score is an indicator that helps you understand how safe it is to trust an organization with your money.. Banks, insurance companies, non-state pension funds (NPFs) and other financial institutions that work with private clients usually have such ratings.

The rating takes into account not only the current financial position of the company, the amount of capital and the volume of debts, but also the entire previous financial history. The organization's high credit rating means that it is practically safe to trust it with money: it has always paid the bills before and now its position is quite stable. And low - that you are taking a big risk by contacting her: her business is not going very well and it is extremely likely that she will go bankrupt.

The international rating agency S\u0026P belongs to the top three most influential international rating agencies..

As an international rating agency, S\u0026P assigns short-term and long-term credit ratings to both issuers and individual debt obligations..

The S\u0026P international credit rating scale serves to meet the needs of participants in global (international) financial markets. Ratings on this scale make it possible to compare the reliability of issuers and obligations of different states.

Earlier, S\u0026P announced the suspension of commercial activities in Russia due to a full-scale invasion of Ukraine..

Before that, S\u0026P downgraded the long-term credit rating of the Russian Federation in national and foreign currency to " Short-term ratings left at 'C'. The ratings remained under review with a negative outlook, the agency said in a statement..

The deterioration in long-term ratings was caused by expectations that Russia will face technical difficulties in servicing Eurobonds in the coming weeks.