The outlook for Russia’s long-term financial risk rating has been revised from negative to stable and affirmed at ‘BBB-‘, Fitch Ratings said in a release yesterday, Sputnik reports.
"A flexible exchange rate, inflation targeting, fiscal consolidation and financial sector support have allowed the economy to adjust and domestic confidence to return gradually," Fitch stated in the release.
The rating firm pointed out that Russia has implemented a "credible policy response" to lower oil prices, which stands out compared to other oil-producing nations.
