Moody’s agency confirms Russia’s default on foreign debt

Moody’s, a credit rating agency, confirmed that Russia had defaulted on its foreign debt for the first time in 100 years after bondholders confirmed they had not received an interest payment of $100 million.

Moody’s said Russian sovereign debt holders had not received their $100 million euro bond payment coupons by the expiry of the 30-day forgiveness period, which the agency considers to be a default by definition.

“It is likely that there will be additional defaults on future payment vouchers,” the agency said in its statement issued late Monday.