Rating agency warns over financial legacy of Sochi

SOCHI, Russia (AP) — A major international ratings agency expects the local government in Sochi, Russia, to struggle with the cost of maintaining the Olympic venues despite massive state investment.

Moody’s said in a report on Wednesday that Sochi and the Krasnodar region have benefited from government funding to prepare for the games, which will start this week. But they will struggle with the cost of maintaining the venues after the event is over, the agency said.