Chinese rating agency Dagong keeps Russia’s rating at A

BEIJING/VLADIVOSTOK, Sep 6 (PRIME) -- Chinese rating agency Dagong has kept Russia’s credit rating in both foreign and local currencies at A with a stable outlook, the agency said on Wednesday.

Despite the fact that the Russian sphere of credit services is under constant pressure due to the U.S. and E.U. sanctions, the recovery of internal factors of growth ensures fiscal consolidation.

A low level of state debt, development of new financial channels, proper foreign exchange and gold reserves guarantee stability of the government’s credit policy, the agency said.

Economic Development Minister Maxim Oreshkin said separately he believed that the macroeconomic situation, low inflation, and stability on the currency market allow Russia to have higher sovereign ratings of international agencies.

International rating agency S&P is expected to decide on Russia’s new sovereign rating on September 15.

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