Do the Rusal sanctions have major consequences for corporate bonds?

One of the largest aluminum makers in the world is the main victim of the new sanctions of US President Donald Trump. These sanction no longer allow Americans to do business with seven Russian oligarchs and their companies. Mary Pieterse-Bloem, Associate Professor at Erasmus School of Economics and Head of Fixed Income at ABN Amro Private Bank International, was asked what the consequences are for the corporate bond market.

According to Pieterse-Bloem 'the most concrete consequence of the introduction of sanctions by the United States is that credit rating agencies have withdrawn their ratings on Rusal. That has not had much effect on the entire corporate bond market. We look in particular at the broader consequences for corporate bonds. It looks like the fat is not out of the fire yet.'

Below the entire article in the Dutch Newspaper het Financieele Dagblad, 21 April 2017.