Russia’s success in fighting inflation despite western sanctions contributed to the decision
(Reuters) – Ratings agency Fitch revised its outlook on Russia’s long-term foreign- and local-currency issuer default ratings to positive from stable.
Fitch, which also affirmed Russia’s rating at “BBB-”, said the country continues to make progress in strengthening its policy framework, underpinned by a more flexible exchange rate, strong commitment to inflation targeting and a prudent fiscal strategy.
Standard & Poor’s Global Ratings last week retained Russia’s long-and short-term foreign currency rating at ‘BB+/B’ with a positive outlook. (Reporting by Pranav Kiran in Bengaluru)