Moody’s upgrades Russia’s credit outlook

Baku. 20 February. REPORT.AZ/ Moody's Investors Service ("Moody's") has changed the outlook on Russia's Ba1 government bond rating to “stable” from “negative”.

Report informs, the main driver for changing the outlook on Russia's Ba1 government bond rating to “stable” from “negative” is the government's enactment of a medium-term fiscal consolidation strategy that is expected both to lower the government's dependence on oil and gas revenues and to permit the gradual replenishment of its savings buffers. In addition, the Russian economy is now recovering after a nearly two-year-long recession. The agency predicts 1.5-2% GDP growth for Russia.

Notably, S&P international rating agency raised Russia’s outlook rating to “stable” in September of last year. Among rating agencies only “Fitch” rated Russia as investable economy and raised outlook to “stable” in October of last year.