Russia defaulted on Eurobonds – Moody’s

On Monday, June 27, payments on two Eurobond coupons did not reach bondholders during the grace period, which, according to our definition, represents a default, the agency notes.

Earlier, Bloomberg announced that in Russia for the first time since 1918 there was a default on sovereign debt obligations in foreign currency.

On the night of June 27, the grace period for paying about $100 million in overdue payments on government bonds expired. In case of default, the deadline is considered a default event.

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