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Fitch credit agency raises Russia’s rating to ‘positive’ as economic recovery continues

Russia’s success in fighting inflation despite western sanctions contributed to the decision

(Reuters) – Ratings agency Fitch revised its outlook on Russia’s long-term foreign- and local-currency issuer default ratings to positive from stable.

What sanctions? Russia’s GDP grows by 1.7% in Jan-Aug 2017

Fitch, which also affirmed Russia’s rating at “BBB-”, said the country continues to make progress in strengthening its policy framework, underpinned by a more flexible exchange rate, strong commitment to inflation targeting and a prudent fiscal strategy.

Standard & Poor’s Global Ratings last week retained Russia’s long-and short-term foreign currency rating at ‘BB+/B’ with a positive outlook. (Reporting by Pranav Kiran in Bengaluru)

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