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Fitch Upgrades Russia's Credit Ratings From 'BBB-' to 'BBB'

© Sputnik / Vladimir PesnyaFitch rating agency
Fitch rating agency - Sputnik International
WASHINGTON (Sputnik) – The international credit rating agency Fitch Ratings said in a statement on Friday that it has upgraded Russia's ratings in two categories from "BBB-" to "BBB."

"Fitch Ratings has upgraded Russia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'BBB' from 'BBB-,'" the release said.

In February, Fitch Ratings said it maintained Russia's issuer default credit rating at BBB- with a positive outlook, citing the country's strong balance sheet and progress in strengthening its economic policy framework.

Earlier, Moody's Investors Service said in a statement that it upgraded Russia’s issuer and unsecured senior debt ratings from Ba1 to Baa3 and changed its outlook from positive to stable.

Moody’s followed Fitch and S&P in upgrading Russia’s rating. Last August, Fitch maintained Russia's issuer default credit rating at BBB- with a positive outlook, while S&P affirmed Russia’s foreign currency long- and short-term sovereign credit rating at 'BBB-/A-3' with a stable outlook in January.

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