Fitch Asserts Russia’s Rating At ‘BBB’ With Stable Outlook

Fitch Asserts Russia’s Rating At ‘BBB’ With Stable Outlook

The rating reflects Russia's credible macroeconomic policy framework, strong external balance sheet and low level of general government debt to gross domestic product (GDP), it said.

Those, however, are balanced against geopolitical risks, weak governance, low potential GDP growth and the country's high dependence on commodity prices.

"The stable outlook reflects the effectiveness of policy in preserving the strength of the sovereign balance sheets and helping anchor macroeconomic stability in the face of the Covid-19 shock and high oil price volatility," it said.