Fitch affirms Russia’s rating at BBB with stable outlook

MOSCOW, Jul 12 (PRIME) -- International rating agency Fitch has affirmed the long-term sovereign issuer default rating (IDR) of Russia at BBB with a stable outlook, the agency said in a statement on July 10.

The short-term issuer’s default rating was affirmed at F2.

“Russia's BBB IDRs reflect its credible macroeconomic policy framework, strong external balance sheet (including a large net external creditor position, and highest external liquidity ratio in the BBB category), and the lowest level of general government debt/GDP in the peer group,” the agency said.

Finance Minister Anton Siluanov told reporters that consistent rating affirmation by global rating agencies proves that the government’s macroeconomic policy is effective.

“Of course, we appraise positively the latest affirmation of the Russian Federation’s sovereign credit rating by Fitch Ratings… and believe that consistent affirmation of Russia’s ratings by all the “big three” rating agencies proves the effectiveness of the macroeconomic policy, led by the government,” he said.

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