Press service of the international rating Agency Moody’s reported an improved Outlook on the sovereign rating of Russia from negative to stable, according to RIA Novosti.
It is reported that the confirmed rating to the speculative level of “Ba1”.
In addition, the Agency has improved its Outlook on the government bond rating of Russia from negative to stable. The ratings were affirmed at “Ba1” and short term rating at “Not Prime”.
It is noted that the main reasons for the forecast changes were the approval by the RF government’s medium-term strategy for fiscal consolidation, which should reduce the government’s reliance on revenue from the sale of oil and gas as well as recovery of the economy after two years of decline.