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Moody’s upgrades Russia’s rating

© EPA/ANDREW GOMBERT

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

MOSCOW, Feb 9, 2019, TASS. Global ratings agency Moody’s has upgraded Russia’s rating to Baa3 with a stable outlook, reported the TASS.

Moody’s said in a report that Russia’s rating was upgraded from Ba1 to Baa3, while the outlook was changed from positive to stable.

“The upgrade of Russia’s ratings reflects the positive impact of policies enacted in recent years to strengthen Russia’s already robust public finance and external metrics and reduce the country’s vulnerability to external shocks including fresh sanctions. The stable outlook reflects evenly balanced upside and downside credit risks,” the agency said.

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