Downgrading PIIGS or raising Russia ?
Summary:
Further downgrading of [some] PIIGS seems imminent
PIIGS’ CDS YTD (click to enlarge)
Russia’s CDS YTD (click to enlarge)
Comparing Russia to European peripheral countries, Russia looks like a safe heaven
It’s also interesting to take note of PIIGS credit ratings (S&P as of December 9th):
Portugal A-
Italy A+
Ireland A
Greece BB+
Spain AA
whereas Russia’s credit rating is “only” BBB Rather than raising Russia’s credit score, further downgrading of PIIGS seems to be a more plausible scenario Sergey Bushmanov
Further downgrading of [some] PIIGS seems imminent
PIIGS’ CDS YTD (click to enlarge)
Russia’s CDS YTD (click to enlarge)
Comparing Russia to European peripheral countries, Russia looks like a safe heaven
It’s also interesting to take note of PIIGS credit ratings (S&P as of December 9th):
Portugal A-
Italy A+
Ireland A
Greece BB+
Spain AA
whereas Russia’s credit rating is “only” BBB Rather than raising Russia’s credit score, further downgrading of PIIGS seems to be a more plausible scenario Sergey Bushmanov