Fitch said on Friday that it had raised Russia’s sovereign rating to BBB against BBB-, saying Moscow’s stronger policies and the country’s strong fiscal position and external situation should allow it to do so.
Since 2017, the agency has retained a positive perspective on Russia’s BBB score.
The Ministry of Finance of Russia supported this decision.
“We believe that Fitch’s decision will be a legitimate reason for an increase in Russia’s sovereign credit rating by the rest of the big three rating agencies,” he said in a statement.
Russia is rated investment grade by S & P Global Ratings and Moody’s.
S&P Global Ratings estimated this week that the recent penalties on Russian corporate bonds denominated in US dollars announced by the United States would have no direct effect on the country’s ranking.