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Fitch does not rule out that will lower Russia's rating to "junk"

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Fitch does not rule out that will lower Russia's rating to "junk"

Post by Admin on Sat Sep 19, 2015 11:27 pm

International agency Fitch may downgrade again Russia's sovereign rating to junk level of BB +.

This writes Prime.

As stated by a senior agency director Charles Seville, the forecast can be changed from negative to stable only if they meet certain conditions, among them - the rise in oil prices and the lifting of sanctions.

According to him, in 2016 Russia's GDP growth is possible in the range from 0 to 0.5%, but this forecast is realized only when the oil price of $ 60 per barrel. It is estimated Fitch, energy accounted for 70% of exports and 50% of federal revenues.

At the same time Ministry of Economic Development, which also claims the possibility of economic growth in the range of less than 1%, lays in the draft budget forecast of $ 50 per barrel.

Fitch also expressed confidence that the anti-Russian Western sanctions in the coming year - the two will remain in force, which is also a negative impact on economic growth.

Unlike other agencies, the "big three" - Standard & Poor's and Moody's, still retains the sovereign rating of the Russian Federation at the investment level.

Previously, the agency had tried to change the sovereign rating, but Finance Minister Anton Siluanov appealed against this decision, saying he did not expect the rating review.

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