Fitch Affirms Russia's Rating at 'BBB' with Stable Outlook

Fitch affirmed on Friday Russia's rating at 'BBB', , citing a reliable macroeconomic policy framework, a strong external balance sheet and the lowest level of general government debt/GDP in its group.

Fitch also kept Russia's outlook stable, citing the effectiveness of its policy in keeping sovereign balance sheets strong and helping to consolidate macroeconomic stability.

Russia has been rated as investment grade by all three major international rating agencies, including Moody's and Standard & Poor's, helping Moscow borrow money on global markets by issuing euro bonds in 2021.

Meanwhile, Western sanctions are seen as restricting Russia's credit rating and hampering its efforts to achieve higher rates of economic growth.

"Despite the moderate near-term stability in US relations after the presidential summit in June, there is a significant risk of additional sanctions over time," Fitch noted.