Standard and Poor's Ratings Agency: ` Downgrade of `Russia's Rating Outlook ' was Directive rather than Objective '

#AceFinanceNews – MOSCOW – March 22. – Russian President Vladimir Putin’s spokesman Dmitry Peskov has said the downgrade of Russia’s rating outlook by the Standard & Poor’s ratings agency was due to a directive rather than objective circumstances.

The downgrade decision “was clearly directive, not objective,” Peskov told journalists Friday, adding that such forecasts reduce the degree of credibility of such agencies.

On March 20, S&P said it revised its outlook on the Russian Federation to negative from stable. The organization also affirmed its ‘BBB/A-2’ foreign currency and ‘BBB+/A-2’ local currency long- and short-term sovereign credit ratings on the country.

“The outlook revision reflects our view of the material and unanticipated economic and financial consequences that EU and US sanctions could have on Russia’s creditworthiness following Russia’s incorporation of Crimea, which the international community currently considers legally to be a part of Ukraine,” S&P said Thursday.

Fitch Ratings on Thursday revised the outlook on Russia’s long-term foreign and local currency Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at ‘BBB’.

Ace Related News Reports:

  1. March 20 – 09.13 GMT – Standard and Poor’s – http://wp.me/pzTwj-2Mf
  2. March 20 – 11.35 GMT – Fitch – http://wp.me/pzTwj-2Ms

Russian Finance News and Media Sources.

#AFN2014

#dmitry-peskov, #russias, #russian-president-vladimir-putin, #standard-and-poors