Rating agencies underestimate Russia's sovereign rating - minister

Jul 20, 2019

Moscow(Russia) July 20: The market assessment of Russia's sovereign credit rating considerably surpasses those provided by rating agencies, Russian Economic Development Minister Maxim Oreshkin told Rossiya-24 TV channel on Friday.
"It is much more important for Russia how the market assesses us, what is happening on the domestic credit market, what is happening on foreign markets. Here we see that the market assessment of Russia's risk is much better than that made by rating agencies," Oreshkin said.
He added that the government is pursuing the task of increasing Russia's economic growth rates to surpass average global rates.
Standard & Poor's earlier confirmed Russia's sovereign credit rating at BBB-with stable outlook. S&P decreased Russia's forecast GDP growth from 1.5% to 1.3% because of slowing economic growth in Q1 of 2019.
Source: Tass

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