An increase of Russia’s rating by international rating agencies is inevitable after Fitch improved its outlook, Russia's Economic Development Minister Maxim Oreshkin said at a conference at Sberbank Corporate University.
"The story here is that financial markets have long been evaluating Russia’s credit rating higher than what the rating agencies say. Last Friday Fitch improved the outlook on Russia’s rating, and they already have the rating in the investment grade,” Prime agency cited Oreshkin as saying
"Other agencies paused for a moment, but it is a purely psychological pause. They were very aggressive and negative toward Russia especially in the first half of 2015 and their forecasts were even catastrophic, if we look at some agencies. So it is difficult for them to acknowledge that they were mistaken and the situation has turned out to be significantly better,” he said.
"Taking into account our achievements in the macroeconomic policy and the recovery of economic growth, the increase of ratings is simply inevitable and they are waiting for a moment when they are able to do it with as low damage to their reputation as possible," the minister added.
