Fitch Affirms Russia’s Investment Rating at BBB-

21 August 2018 (11:36)

UrBC, Moscow, August 21, 2018. The international rating agency Fitch affirmed Russia’s long-term credit rating (foreign currency-wise) at BBB-, with Positive rating outlook, the company says. The country’s short-term credit rating got affirmed at F3.

According to the agency, the current rating outlook (Positive) points to the ongoing progress in the country’s improving economic policy, a more flexible exchange rate, consistent inflation targeting, and a stable budget strategy.

Fitch believes the Russian economy has been handling the consequences of the U.S.-imposed sanctions (first enacted in April 2018) well.

‘Russia’s economy overcame a new round of sanctions the U.S. went through with in April, despite some volatility at first. Still, the U.S. are now somewhat more likely to introduce new, stricter sanctions than they were in February (when Russia’s rating got reassessed last). The country is still facing the sovereign debt risks, as well as the prospects of limited access to international financing options and macroeconomic volatility risks,’ Fitch is reported as stating.

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