Exclusive-No default risk in event of Russian asset confiscation: Moody’s, S&P say

Countries whose sovereign bonds were purchased by Russia would not be considered in default if Western governments decide to confiscate frozen Russian reserves worth $300 billion, credit rating agencies Moody's and S&P Global said. U.S. and British officials are pushing to seize Moscow's assets immobilised in Belgium and other European countries. Back in June 2022, the United States and Moody's deemed Russia to have defaulted on its bonds when international sanctions prevented Moscow from making payments to bondholders – an interpretation which Moscow rejected.