The international rating agency Moody’s will soon withdraw the ratings of all Russian companies, Reuters reports citing the agency’s statement.

Fitch and S&P Global Ratings made a similar decision earlier. Both agencies assured that the ratings will be withdrawn by April 15, the deadline set by the EU. As part of the fourth package of sanctions, the EU announced a ban on providing ratings to legal entities established in Russia.

In early March, Moody’s, Fitch and S&P announced the suspension of commercial activities in Russia due to the escalation in Ukraine. Shortly after the start of the Russian special operation in Ukraine and the imposition of retaliatory Western sanctions, these agencies downgraded Russia’s sovereign rating to pre-default levels. On March 18, S&P downgraded Russia’s rating to the “default more than likely” category.