S&P rating agency raises Russia to investment grade

Solid economic and monetary policies push the country into higher territory.

“We expect Russia’s economic recovery to continue through 2021, having exited recession in 2017,” S&P Global Ratings said. Its outlook for Russia is “stable.”

Russia’s sovereign credit has been raised to “BBB-,” an investment grade. Since 2015 the rating had been “BB+,” a speculative category that hindered foreign investment.

Among the “big three” US-based credit rating agencies, only Moody’s continues to hold Russia at the speculative, or “junk,” level. For most investors, especially institutional ones, an investment-grade rating from S&P and Fitch would be sufficient to renew investment in Russia.

Photo: business recorder / Source

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