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Example (Source):
Standard & Poor's credit ratings agency said this week it could downgrade Russia to junk as soon as January due to a rapid deterioration in "monetary flexibility".
I understand this much: Standard & Poor's credit ratings agency is likely to reduce Russia's financial image as it were useless junk. But for the life of me I don't get the rest of the sentence (expecially the part that's highlighted in a bold font).
Standard & Poor's credit ratings agency said this week it could downgrade Russia to junk as soon as January due to a rapid deterioration in "monetary flexibility".
The agency could downgrade Russia's country rating to "junk". This event could happen very soon. How soon? As soon as January. Why is the agency going to downgrade Russia? Because of the rapid deterioration of the country's "monetary flexibility".
