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Russia to be able to grant loans to other countries without considering their ratings

According to the resolution of the Cabinet of Ministers, Russia will not follow the recommendations of international institutions when providing loans to other countries

MOSCOW, December 22. /TASS/. Russia relaxes requirements to a credit rating of countries that can apply for loans from it, the Russian government said in the approved decree.

Amendments are made in rules of lending by Russia to foreign countries. To receive a loan from Moscow, foreign countries were not to be categorized as assigned to the sixth and lower credit risk groups of OECD. Loans were not extended also to countries with the long-term creditworthiness rating below the level of B-from Fitch or Standard & Poor’s or below the level of B3 from Moody’s.

Russia will not also follow recommendations of international institutions when extending loans to other countries, according to the Cabinet decree.