S&P affirms Russia’s rating at BBB-

International rating agency S&P Global Ratings has affirmed Russia’s rating at the investment level of BBB- with a Stable outlook, the agency said.

The agency noted that the credit rating on liabilities in the local currency is BBB/A-2 and in the foreign currency it is BBB-/A-3.

A strong balance of assets and liabilities and a tough tax policy would allow the Russian economy to cushion the impact of low oil prices, Reuters reported.