International rating Agency Fitch Ratings on Friday, April 15, affirmed the long-term Issuer default ratings (IDR) of Russia in national and foreign currencies. About it reports “Interfax” with reference to press release of the Agency.
Rating left on the last stage of investment level BBB-, Outlook — “negative”.
“Ratings of BBB – to reflect strong external position and sovereign balance Russia and low financing needs, against the background of structural weaknesses, as dependence on commodities and risk management organization, low potential growth and geopolitical tensions,” said Fitch.
According to the Agency, external risks for Russia in the last 12 months has decreased. Decreased, in particular, fear the sharp spending of international reserves in terms of capital outflows and the need to repay debt.
According to analysts, Russia’s GDP will shrink 1.5 percent this year after falling by 3.7 percent in 2015, and the Federal budget deficit will increase in 2016 to 3.9 percent of GDP compared to 2.4 percent of GDP a year earlier.
Fitch expects the current account surplus of the balance of payments in 2016 will be sufficient to cover the expected outflow of capital amounting to 40 billion dollars.
Key risks to our forecast reserves are declining oil prices and the stronger demand for foreign currency.
In its forecasts, Fitch assumes that the sanctions the EU and the US against Russia will remain in the medium term. The average price of oil is projected at $ 35 per barrel in 2016 and $ 45 in 2017.
As transfers RIA Novosti, the Russian Finance Minister Anton Siluanov, commenting on the decision of Fitch, noted that Russia was allowed to retain the rating of factors such as “developments in the field of macroeconomic policies: adaptation of the balance of payments, stabilization of economic dynamics, a sharp slowdown in inflation and ongoing communication with rating agencies”.
Currently the ratings of Russia from two international agencies exhibited on the lower level of investment from Moody’s Ba1 and S&P — BB+. Fitch keeps investment grade rating is BBB-.
