Tag Archives: Fitch

By Josh Beckerman Fitch Ratings has downgraded 10 Russian companies including Rostelecom and Yandex NV to “CC,” as a March 5 presidential decree and escalating sanctions “could impose insurmountable barriers” on timely debt payments to certain international creditors. The decree “could force a redenomination of foreign-currency debt into local currency for international creditors, which we would likely view as a distressed debt exchange or event of default,” Fitch… Source link

Reuters Smithfield Foods stops slaughtering pigs at U.S. hometown plant CHICAGO (Reuters) -Smithfield Foods, the world’s largest pork processor, has stopped slaughtering pigs in the United States’ so-called ham capital, where the company was founded 85 years ago. The end of slaughtering in Smithfield, Virginia, is the latest reconfiguration for the company’s namesake plant and follows a months-long internal review of its East Coast operations, Smithfield Foods said in a statement. The… Source link