Upgrade Of Russia's Investment Rating By Fitch Positive Move - Economic Ministry

TURKMENBASHI (UrduPoint News / Sputnik - 12th August, 2019) Russian Economic Development Minister Maxim Oreshkin said on Monday that he saw international rating agency Fitch's decision to upgrade Russia's rating as a positive development.

"Positive," Oreshkin told reporters when answering the relevant question.

On Friday, Fitch upgraded Russia's credit ratings in two categories from "BBB-" to "BBB" with a stable outlook.

However, the agency warned that the threat of sanctions escalation as well as a weak outlook for economic growth � averaging 1.9 percent for the next two years � would weigh on Russia's external financing flexibility and investment prospects.

In February, Moody's upgraded Russia's issuer and unsecured senior debt ratings from Ba1 to Baa3 and changed its outlook from positive to stable, becoming the third "Big Three" credit rating agency to improve Russia's rating to investment grade.