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S&P affirms Russia's rating at 'BBB-/A-3' with stable outlook

·1 min read

Jan 15 (Reuters) - Credit rating agency S&P Global Ratings on Friday affirmed Russia's rating at 'BBB-/A-3' with a stable outlook, reiterating that the country's strong balance sheets could offset potential risks posed by the COVID-19 pandemic and U.S. sanctions.

Russia is rated investment grade by the three major rating agencies, including Moody's and Fitch, which helped Moscow borrow money on global markets by issuing Eurobonds in 2020.

Still, Western sanctions are seen constraining Russia's credit rating and hampering its efforts to achieve higher rates of economic growth. (Reporting by Yajush Gupta in Bengaluru; Editing by Devika Syamnath)