"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.
