Downgrading credit rating will not affect Russia’s solvency — deputy minister

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Fitch revises Russia’s Credit rating from stable to negative

MOSCOW, March 21. /ITAR-TASS/. Downgrading Russia’s credit rating will not affect the country’s solvency, says Alexei Moiseyev, Deputy Finance Minister.

“I see nothing that would limit Russia’s solvency,” he told reporters on Friday, adding that negative rating forecast would not influence borrowing conditions for Russian companies.

On Thursday, Standard & Poor’s revised the outlook for Russia’s credit rating from stable to negative over possible effects of the United States and the European Union’s sanctions after Crimea’s accession to Russia. On Friday, Fitch also downgraded the outlook for Russia’s debt.