11:07 GMT +318 March 2018
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    Standard & Poor's

    S&P Upgraded Russia’s Rating to Positive From Stable - Statement

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    According to reports, Standard and Poor's upgraded on Friday its outlook for Russia to positive from stable and affirmed the country’s foreign currency at 'BB+/B'.

    WASHINGTON (Sputnik) Standard and Poor's upgraded on Friday its outlook for Russia to positive from stable and affirmed the country’s foreign currency at 'BB+/B', the company said in a release.

    "We expect GDP growth in Russia will pick up, averaging about 1.7% in 2017-2020, and we see a lower risk of large capital outflows, therefore moderating external pressures," the release said. "We are revising our outlook on Russia to positive from stable and affirming our 'BB+/B' foreign currency and 'BBB-/A-3' local currency sovereign credit ratings.

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