Fitch Affirms Russian Currency Bonds at BBB- With Negative Outlook

Fitch Ratings maintained a BBB- rating for Russia’s bonds with a negative outlook, the agency said in a press release.

WASHINGTON (Sputnik) — According to the forecasts of the Ministry of Economic Development, in 2016 GDP is expected to grow by 0.7 percent and inflation is expected to be 6.4% by the end of the year while Urals crude is expected to be $50 a barrel and the ruble-dollar rate is expected to be 63.3.

"The issue ratings on Russia's senior unsecured foreign- and local-currency bonds are also affirmed at 'BBB-'," Fitch stated on Friday.