<p>Bondholders in Nayara Energy, a unit of Russia’s Rosneft, could be facing mark-to-market losses after ratings agencies downgraded the Russian sovereign, which in turn will likely trigger similar rating actions for local corporates and its subsidiaries.</p>

Nayara Energy, a unit of Russia’s Rosneft, could be facing mark-to-market losses after rating agencies downgraded the Russian sovereign.