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Ratings and Rankings for Russia

Country Ratings Summary | Standard & Poor’s | Moody’s | Fitch Ratings | Other Credit Rating Agencies | Doing Business | Sources |


Last updated: September 27, 2017


Standard & Poor’s Sovereign Ratings

Moody’s Sovereign Ratings

Fitch Sovereign Ratings

Other Credit Rating Agencies

Doing Business

Comparison of Credit Rating Scales




Standard & Poor’s Sovereign Ratings



Since January 2015 S&P’s long-term foreign currency sovereign credit rating has been stated at BB+ for Russia that is one category below the investment grade.

Indicator nameIndicator value
Long-term foreign currency sovereign credit ratingBB+
Short-term foreign currency sovereign credit ratingB
Long-term local currency sovereign credit ratingBBB-
Short-term local currency sovereign credit ratingA-3
Russia National Scale rating (long-term)ruAAA
Transfer & Convertibility AssessmentBB+
Outlookpositive
Last reviewed: September 15, 2017 (sovereign rating retained at BB+ with positive outlook).

Next planned review: n/a.



Moody’s Sovereign Ratings



Moody’s sovereign rating for Russia (government bonds) is presently at Ba1 that is one category below the investment grade.

Indicator nameIndicator value
Rating for government bonds in foreign currencyBa1
Rating for government bonds in local currencyBa1
Outlook for government bonds ratingstable
Country ceiling for long-term bonds & notes in foreign currencyBa1
Country ceiling for short-term bonds & notes in foreign currencyNP
Country ceiling for long-term bank deposits in foreign currencyBa2
Country ceiling for short-term bank deposits in foreign currencyNP
Last reviewed: February 17, 2017 (outlook for government bonds’ rating changed from negative to stable).

Next planned review: n/a.



Fitch Sovereign Ratings



Fitch presently keeps sovereign rating of Russia at BBB-, which is the lowest level of investment grade.

Indicator nameIndicator value
Foreign currency long-term ratingBBB-
Foreign currency short-term ratingF3
Foreign currency rating outlookpositive
Local currency long-term ratingBBB-
Local currency short-term ratingF3
Local currency rating outlookpositive
Country CeilingBBB-
Last reviewed: September 22, 2017 (rating affirmed, outlook changed to positive).

Next planned review: n/a.



Other Credit Rating Agencies



Indicator nameUpdatedLocal CurrencyForeign CurrencyOutlook
Dagong Credit Rating Agency (China)
Sovereign credit rating08.01.2015AAstable
Expert RA Rating Agency (Russia, part of Expert RA group)
Sovereign credit rating04.02.2016BBBB-
Rating of the credit climate04.02.2016BBB-BBB--
Rating-Agentur Expert RA GmbH (Germany, part of Expert RA group)
Rating of Sovereign Governments’ Creditworthiness14.07.2017BBB-BBB--
Country Credit Environment Rating14.07.2017BBB-BBB--



Doing Business



At present Russia stays much below the majority of the developed countries in terms of regulatory environment for doing business, but it still outperforms all countries belonging to BRICS.

Indicator nameIndicator value
Doing Business Ranking40 (out of 190 countries)
Distance to Frontier73.19%
Last updated: October 25, 2016.



Comparison of Credit Rating Scales



Note: Long-term sovereign credit rating scales are compared.

Characteristics of debt/issuerGradeS&PMoody’sFitch
Highest qualityInvestmentAAAAaaAAA
High qualityInvestmentAA+Aa1AA+
AAAa2AA
AA-Aa3AA-
Strong payment capacityInvestmentA+A1A+
AA2A
A-A3A-
Adequate payment capacityInvestmentBBB+Baa1BBB+
BBBBaa2BBB
BBB-Baa3BBB-
Likely to fulfil obligations,
ongoing uncertainty
SpeculativeBB+Ba1BB+
BBBa2BB
BB-Ba3BB-
High credit riskSpeculativeB+B1B+
BB2B
B-B3B-
Very high credit riskSpeculativeCCC+Caa1CCC+
CCCCaa2CCC
CCC-Caa3CCC-
Near default with possibility of recoverySpeculativeCCCaCC
C
DefaultSpeculativeSDCRD
DD


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