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S&P Confirms Russia's "Stable" Credit Ratings

S&P Confirms Russia's "Stable" Credit Ratings

Write: Keleman [2011-09-01]

Standard & Poor's is maintaining Russia's stable sovereign credit rating, listing it as an A-3 for its short-term outlook, but BBB for its long-term one.

The long-term rating for Russia's ruble-denominated bonds remains at a BBB+ level, while short-term rating has been re-confirmed at the A-2 level.

All these ratings have been given a "stable" forecast.

However, S&P is warning that Russian economy still remains dependent on the export of raw materials, including oil and gas, which could impact it in the long term if commodity prices plunge.

S&P also estimates Russia's GDP per capita at 12-thousand-650 U.S. dollars a year.