Fitch: elections will not affect Russia's ratings and outlook

The Fitch Ratings announced that results of the elections to the State Duma will not alter the 'BBB' rating and positive outlook on the Russian Federation, which Fitch affirmed in September.

Russia's vulnerability to a severe and sustained fall in oil prices and its economic and fiscal performance remain the key possible ratings triggers, as they were in September. Fitch still thinks it is extremely unlikely that Vladimir Putin will fail to win the country's presidential elections in March. Nevertheless, the sharp drop in support for Putin's United Russia party highlights concerns about corruption and the disillusion with the current regime which has been expressed so far in falling approval ratings for Putin, currently prime minister, and President Dmitry Medvedev, Reuters reports.