March 26, 2020 / 9:20 PM / 7 days ago

BRIEF-S&P Says Russia's 'BBB-/A-3' Foreign Currency And 'BBB/A-2' Local Currency Ratings Affirmed

March 26 (Reuters) - S&P:

* S&P SAYS RUSSIA ‘BBB-/A-3’ FOREIGN CURRENCY AND ‘BBB/A-2’ LOCAL CURRENCY RATINGS AFFIRMED; OUTLOOK STABLE

* S&P SAYS RUSSIA’S STRONG POLICY FRAMEWORK, AMID SOLID EXTERNAL & PUBLIC BALANCE SHEETS, SHOULD ENABLE ITS ECONOMY TO ABSORB RECENT SHOCKS

* S&P SAYS AFFIRMING ‘BBB-/A-3’ FOREIGN CURRENCY AND ‘BBB/A-2’ LOCAL CURRENCY SOVEREIGN CREDIT RATINGS ON RUSSIA

* S&P SAYS STABLE OUTLOOK BALANCES FISCAL & FINANCIAL STABILITY RISKS STEMMING FROM LOWER OIL PRICES & CORONAVIRUS AGAINST RUSSIA’S ROBUST BALANCE SHEET

* S&P SAYS COULD TAKE A NEGATIVE RATING ACTION IN THE NEXT 24 MONTHS IF S&P SEES A RISK OF A MATERIAL DETERIORATION OF RUSSIA’S BUDGETARY PERFORMANCE

* S&P SAYS PROJECT RUSSIA'S FEDERAL BUDGET WILL RUN A DEFICIT OF 2.8% OF GDP IN 2020 AND 0.4% IN 2021 Source text : [bit.ly/2wEEQ4U]

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