This is a Russia news story, published by The Moscow Times, that relates primarily to The Central Bank's news.
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corporate loansThe Moscow Times
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76% Informative
Russian businesses bracing themselves for a financial crunch that could put many of them out of business.
The Central Bank's interest rate has reached a crushing 21% , with expectations for a further hike in December .
Late payments from customers and partners have been climbing, signaling distress in the corporate sector.
Corporate bankruptcies in Russia have jumped by 20% this year as soaring interest rates and liquidity shortages push firms closer to financial ruin.
High rates have also made rolling maturing bonds over untenable, putting even more pressure on corporate reserves.
Companies are now forced to offer yields around 27% to attract investors wary of default risks.
Construction sector, particularly vulnerable to delayed payments, has been hit by a double whammy after a generous mortgage subsidy program was ended on July 1 , sending the cost of borrowing for would-be homeowners upwards.
Real estate companies have responded by offering their own financing programs, similar to the subprime model used in the U.S ..
VR Score
80
Informative language
81
Neutral language
10
Article tone
semi-formal
Language
English
Language complexity
60
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
5
Source diversity
1
Affiliate links
no affiliate links