MOSCOW (Sputnik) – Standard & Poor’s financial services firm on Friday revised Russia’s ratings up to ‘BBB-/A-3’ from ‘BB+’ with a stable outlook.
The New York-based ratings agency cited the country’s prudent policy and improved monetary transmission.
Also, Fitch ratings agency said that Russia’s long-term foreign- and local-currency issuer default ratings will remain at BBB- with positive outlook.
“Fitch Ratings has affirmed Russia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-‘ with positive outlook,” the release said on Friday.
Fitch explained that the positive outlook reflects “continued progress in strengthening the economic policy framework underpinned by a more flexible exchange rate, a strong commitment to inflation- targeting and a prudent fiscal strategy.”