Escalating events in the Russia-Ukraine conflict have led to increasingly severe rating actions across sectors by Moody's Investors Service

This graphic provides a visual representation of the sudden and magnifying effects of Russia’s invasion of Ukraine on credit ratings across different sectors of the debt market. The information design illustrates the radiating impact of the initial invasion and international sanctions on Russia, first through the credit rating actions that Moody’s took on the Russian and Ukrainian sovereigns, and then through subsequent rating actions over the next several weeks on other types of debt issuers including state and local governments, banks and companies.