S&P affirms Russia's sovereign ratings with negative outlook

10:17, 19.03.2016 1 min read

Standard & Poor's (S&P) has affirmed Russia's long-term foreign currency rating at "BB+" with negative outlook, the rating agency said in a press release on Friday.

The short-term foreign currency rating remains "B".

S&P also affirmed Russia's long- and short-term local currency ratings at "BBB-/A3" with negative outlook.

It confirmed Russia's national scale rating at "ruAAA".

S&P forecasts Russian GDP to contract 1.4% in 2016 with moderate growth resuming in 2017, with real GDP growth averaging 0.5% in the 2016-2019 period.