MOSCOW /TASS/. International rating Agency Standard & Poor’s (s&P) upgraded the Outlook on the sovereign credit rating of Russia to “stable” from “negative”, confirming the rating at “BB+”.
About it reported in a press release from the Agency.
Short-term credit rating of Russia in foreign currency is confirmed at level “B” long-term credit rating in national currency is confirmed at level “BBB -” and short – term- at level “A-3”. The rating of the Russian Federation on the national scale was affirmed at “ruAAA”.
The S&P estimates that the impact of external risks on the economy of the Russian Federation slightly decreased. At the same time, Russia continues to adapt to the double external shock on the side of low oil prices and sanctions from the US and the EU. “The stable Outlook on the ratings reflects our expectations that the Russian economy will continue to adjust to the relatively low oil prices, while continuing to monitor fiscal performance,” – said in a release S&P.
S&P also expects an increase in the deficit of the consolidated budget of the Russian Federation in 2016 to 4.1% of GDP from 3.5% of GDP in 2015.
In April 2014, against the background of events in Ukraine, the rating was reduced from “BBB” to “BBB-” with “negative” Outlook. Then in January 2015, the Agency downgraded the rating of Russia to “BB+” with negative Outlook.
The previous revision of the Russian credit rating S&P held in February 2016. Then the Agency did not change anything, confirming the rating and the negative Outlook on it.
Another international rating Agency – Moody’s – also keeps Russia’s rating in the speculative category at Ba1.
The Rating Of Russia
Moody’s, Standard and Poor’s and Fitch’s lead sovereign credit rating of Russia in the autumn of 1996. To 2003-2005 national credit rating of Russia in foreign currency were considered non-investment by all agencies. Now recognize the Russian commitment investment only Fitch.
A rating by S&P
The S&P for the first time has appropriated Russia a rating of 4 October 1996: BB (non-investment, high-risk obligations). Two months before the default of August 17 1998, the rating was downgraded to B+, August 13 – a to B – and then downgraded to predeath: CCC and CCC-.
January 27, 1999, the rating was downgraded to SD (partial default) after refusing to repay the third tranche of currency bonds. The recovery rating began on 8 December 2000: first, to the level of B-. January 31, 2005 S&P for the first time has appropriated Russia investment rating BBB-.
On 15 December 2005 he was promoted to the BBB, and September 4 to BBB+. After the onset of the global economic crisis in 2008-2009, the rating was downgraded to BBB.
