Fitch upgrades Russia's rating
Fitch Ratings, the international rating agency, has upgraded the Russian Federation's long-term foreign and local currency ratings to BBB from BBB-
Aug 09, 2005
Fitch Ratings, the international rating agency, has upgraded the Russian Federation's long-term foreign and local currency ratings to 'BBB' from 'BBB-'.
The country ceiling has also been upgraded to 'BBB' from 'BBB-' and ratings for the MinFin V and VIII bonds have been upgraded two notches to 'BBB' from 'BB+'. The short-term foreign currency rating has been affirmed at 'F3'. The Outlook on all long-term ratings is stable.
In April Standard&Poor’s wanted to lower its rating on Russia, in view of the negative impact from the YUKOS case and tax claims against the Russian-British oil company TNK-BP.
On January 31, Standard&Poor's upgraded its long-term foreign currency rating on Russia from BBB- to BB+. The agency also reviewed its short-term foreign currency rating from B to A-3, its long-term national currency rating from BBB- to BBB and Russia’s national scale rating from ruAA+ to ruAAA. Short-term national currency was confirmed at A-3. Outlook on all ratings was stable.
Standard&Poor's was the third ratings agency, after Moody’s and Fitch, to upgrade Russia’s sovereign debt to investment grade. Moody’s gave Russia the investment grade rating on October 8, 2003, and Fitch – on November 17, 2004.
The country ceiling has also been upgraded to 'BBB' from 'BBB-' and ratings for the MinFin V and VIII bonds have been upgraded two notches to 'BBB' from 'BB+'. The short-term foreign currency rating has been affirmed at 'F3'. The Outlook on all long-term ratings is stable.
In April Standard&Poor’s wanted to lower its rating on Russia, in view of the negative impact from the YUKOS case and tax claims against the Russian-British oil company TNK-BP.
On January 31, Standard&Poor's upgraded its long-term foreign currency rating on Russia from BBB- to BB+. The agency also reviewed its short-term foreign currency rating from B to A-3, its long-term national currency rating from BBB- to BBB and Russia’s national scale rating from ruAA+ to ruAAA. Short-term national currency was confirmed at A-3. Outlook on all ratings was stable.
Standard&Poor's was the third ratings agency, after Moody’s and Fitch, to upgrade Russia’s sovereign debt to investment grade. Moody’s gave Russia the investment grade rating on October 8, 2003, and Fitch – on November 17, 2004.