COM - Ukraine War Update: Fitch cuts Dutch telecom Veon to junk status due to Russia exposure

Update: 3:49 p.m. ET: Fitch has dropped its rating on Dutch-based telecom Veon (NASDAQ:VEON) down to junk status due to the company’s heavy exposure to Russia and Ukraine. Standard & Poor’s also cut Veon’s rating further into junk territory. Update 3:21 p.m. ET: Citigroup (NYSE:C) announced that it’s expanding plans to exit Russia. The banking giant previously disclosed that it would be winding down its Russian consumer business due to the Ukraine War, but said Monday that it will also review exiting other business lines as well. Meanwhile, Deutsche Bank (NYSE:DB) is rallying in part on word that it’s also departing Russia after previously indicating that it wouldn’t do so. Update 1:16 p.m. ET: The U.S. has told its allies that China has signaled a willingness to provide military assistance to Russia to support its invasion of Ukraine, the FT reported, citing officials familiar with diplomatic cables. Update 12:08 p.m. ET: "The

For further details see:

Ukraine War Update: Fitch cuts Dutch telecom Veon to junk status due to Russia exposure