Fitch Affirms Russia's BBB Rating

MOSCOW, February 6 – RIA Novosti. The international rating agency Fitch has affirmed Russia's long-term sovereign issuer default rating (IDR) at 'BBB' with a stable outlook, the agency said in a press release.

Short-term IDR affirmed at F2. “The stable outlook reflects Russia's policy response to the COVID-19 shock and extreme volatility in oil prices, which has contributed to strengthening macroeconomic stability and maintaining the stability of the sovereign balance sheet,” …

Fitch also believes that a commitment to inflation targeting, exchange rate flexibility and a sound fiscal strategy will help build Russia's resilience to shocks and reduce the impact of oil price volatility on the economy.

According to Fitch forecasts, Russia's GDP growth in 2021 will amount to 3.0%.

Author: wedocount

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