Fitch upgrades sovereign rating of Russia
Fitch Rating announced improved outlook for Russia's sovereign credit rating from "negative" to "stable". Fitch reaffirmed Russia's rating at BBB- but raised its outlook on the rating. Among the factors that have led to an increase in the outlook, according to a press release from Fitch, experts noted is a "consistent and credible" measures of the Russian authorities in response to the sharp drop in oil prices. Fitch also recognized the high efficiency of Russia’s response measures compared with those of other oil-producing countries.