Bonds News

S&P affirms Russia's rating at 'BBB-/A-3'

July 20 (Reuters) - Ratings agency Standard & Poor's affirmed Russia's "BBB-/A-3" credit rating on Friday, saying the country's external and public balance sheets should enable the economy to absorb shocks from possible new international sanctions.

The rating agency kept the country’s stable outlook unchanged.

Before the latest U.S. sanctions imposed on Moscow in April, Russia had received a long-awaited upgrade to its sovereign rating from S&P Global in February.

It was the first such lift by S&P since 2006 that moved Russia’s foreign currency long-term and short-term sovereign credit ratings to investment grade, opening the door to more international investors seeking entry to Russia. (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Shounak Dasgupta)