Market's Assessment Of Russia's Credibility Higher Than By Agencies - Economy Minister

MOSCOW (UrduPoint News / Sputnik - 20th July, 2019) The capital market provides a higher assessment of Russia's credit rating that rating agencies do, Russian Economic Development Minister Maxim Oreshkin said on Saturday.

Earlier in the day, Standard & Poor's (S&P) said it upheld Russia's rating at BBB- with a stable outlook.

"It is more important for Russia how the market assesses us, what is going on the domestic securities market and foreign markets.

We can see here that the market assessment of the Russian market is better that assessment by rating agencies. We pay interest on our liabilities based on the assessment by investors, not rating agencies," Oreshkin said in an interview with the Rossiya 24 broadcaster.

The minister noted that it was important for Russia to show that economic growth rate, which was low in the first quarter of 2019, has stabilized, and to surpass the worldwide average rate in the future.