Russia Economic Crisis 2015 Update: Moody's Downgrades Russia's Credit Rating To Junk

Moody's Investors Service downgraded Russia's sovereign debt rating to junk status Friday, driven by the ongoing crisis in Ukraine and the dramatic drop in oil prices. The move comes a month after credit rating agency Standard & Poor's also slashed Russia's credit rating to junk status, marking the first time the country has slipped below investment grade in over a decade.