Rating Agency Fitch downgraded the credit rating of Russia from BBB to BBB - with negative Outlook

According to the Censor.NET referring to RBC-Ukraineromania about this is available on the Agency's website.

A rating of BBB - is perceived by investors as "junk", i.e. it is highly unreliable and dangerous for investment.

In the reasoning for the downgrade, Fitch pointed to factors such as a sharp drop in the ruble and oil prices and the sharp rise of the key rate to 17%. The rating Agency notes that its negative impact on the Russian economy still retain Western sanctions, which Russian banks and corporations are deprived of access to external capital markets.

Fitch also notes that it now expects a contraction of the Russian economy by 4% (previous forecast Agency said on reduction of 1.5%). The decline in the economy will be accompanied by a decrease in consumer activity and investment. The Agency believes that economic growth in Russia may be terminated by 2017.

Source: http://censor.net.ua/