Russia submits amicus curiae brief to US Supreme CourtRussian Politics & Diplomacy March 25, 3:34
Russia, China suggest for UN SC to adopt resolution on chemical terrorism threatRussian Politics & Diplomacy March 25, 3:23
Russian lawmaker compares European Union to Soviet UnionRussian Politics & Diplomacy March 25, 3:16
Russian emergencies ministry says fire at Kazan’s gunpowder factory fully extinguishedWorld March 25, 3:01
Relations btw US, Russia worst over half-century - Lukin quoting KissingerRussian Politics & Diplomacy March 25, 2:58
Russia suggests setting up international coalition for demining operations in SyriaRussian Politics & Diplomacy March 25, 1:08
One person dies in fire at gunpowder factory in Russia's KazanWorld March 24, 21:47
Russia's 'Gentlefan' baton passed on to Krasnodar ahead of Cote d’Ivoire friendlySport March 24, 21:34
Brazil’s football star Carlos: Germany, Portugal to meet in 2017 Confederations Cup finalSport March 24, 20:45
MOSCOW, 12 March./ITAR-TASS/ International rating agency Fitch has affirmed long-term issuer default rating (IDR) of Russia in national and foreign currencies from stable to negative, the rating agency said in a statement.
Long-term IDR affirmed at BBB, short-term foreign currency IDR - F3. Country ceiling rating was affirmed at BBB +. The outlook revision reflects the potential impact of sanctions on the economy and the business in Russia, added to Fitch. Russian economic growth slowed in 2013 to 1.3%.
"As banks and investors the US and EU are reluctant to lend to Russia now, the economy may continue to slow its growth," - said the agency.
According to Fitch analyst, the direct impact of the declared sanctions is not visible, but in the future, investors can expect the new measures, such as restricting access of Russian companies to external capital markets.
"The costs of risk have increased, and the provision of syndicated loans suspended a number of large corporations," - added the agency.
Another international rating agency Standard & Poor's has changed the outlook on Russia in national and foreign currencies to negative. Meanwhile, the agency has kept long-term sovereign rating of Russia in foreign currency at BBB and in local currency BBB +.
The outlook changed to negative from stable due to the increasing geopolitical and economic risks, the agency said.