Moody's Decision on Russian Rating Positive, But Positive Trends Underestimated

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The decision of Moody's rating agency to improve the outlook of Russia's rating is positive, but the agency underestimate the positive trends existing in the country's economy, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev said Saturday.

Moody's - Sputnik International
Moody’s Changes Outlook on Russia’s Ba1 Government Bond to Stable From Negative
MUNICH (Sputnik) — On Friday, Moody's changed the outlook on Russia’s Ba1 government bond rating to stable from negative.

"Of course it is a positive signal, but frankly speaking we consider that rating agencies underestimate positive trends, which have emerged in Russia's economy. This move is not sufficient, because it is obvious that Russia has reversed the decreasing trends to the growing trend, especially after the [oil market stabilization] deal with OPEC," Dmitriev told reporters.

He added that the Moody's decision had been welcomed, but if the decisions of rating agencies were not so politicized, it would change not only the outlook, but the rating itself.

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