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Junk bonds...
https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-03-03/card/russia-s-credit-ratings-cut-to-junk-by-moody-s-and-fitch-hwWNrJAvI1L3VvO36Uym
Interesting that Gazprom paid a coupon earlier this week.
But Russian local bonds didn’t. Not sure about RF sovereign debt. My guess is it defaults.