Min: Big 3 agencies to award Russia invest-grade ratings in 2018

TOKYO, Feb 22 (PRIME) -- All the Big Three credit rating agencies -- Fitch, Moody's and S&P -- will assign Russia investment-grade ratings until the end of 2018, Economic Development Minister Maxim Oreshkin said on Thursday.

“The Russian economy’s changes are being appraised by the rating agencies… We expect upgrades from all the rating agencies to the investment grade this year,” he said.

On Friday, S&P and Fitch are to revise the country’s sovereign ratings.

Presently, only Fitch rates Russia at an investment-grade of BBB- with a Positive outlook. S&P’s rating is at BB+ and Moody’s at Ba1, both with Positive outlooks, which corresponds to a speculative grade. In 2014, S&P and Moody’s reduced the state’s ratings to the junk level.

End