Report: Fitch says Russian rating under pressure from state finances

MOSCOW, Sep 2 (PRIME) -- Russian and Brazil ratings are under pressure due to a worsening situation with state finances, James McCormack, managing director of international rating agency Fitch Ratings, told in an interview to Bloomberg seen by PRIME on Wednesday.

The risk here obviously favors a downgrade, he said, adding that Russia’s rating is under pressure as the country has no new foreign direct investment.

Currently, Fitch rates Russia at BBB-, the lowest investment grade. The next revision is scheduled for October 16.

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