Fitch for political reasons downgraded Russia's credit rating
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Today, the so-called "international" rating agency Fitch lowered the credit rating of the Russian economy from BBB to BBB- (with a negative outlook). This rating is interpreted as the lower level of average solvency. The next step is “junk” ratings. Fitch explained their decision by the fall of the Russian ruble, lower world oil prices and reduced access for Russian banks to foreign loans. Another reason for Fitch called the increase in the key rate of the Central Bank of the Russian Federation to 17%. Reports about it "Vesti.Ekonomika".
Russian economic experts say that Fitch’s decision is politically biased. The fact is that an objective reduction in credit ratings can occur only if the state loses its ability to make payments on its existing debt. Russia not only makes such payments, but also has more than significant gold and foreign exchange reserves, which can only be dreamed of by countries set up by Fitch several steps higher than the Russian Federation in their rating at once (for example, Italy with government debt as much as 128% GDP and new requests for loans from the ECB).
It is necessary to note one more oddity. Fitch experts say that Russian banks have actually lost the possibility of lending abroad. Apparently, the term "abroad" Fitch means "in Europe and the United States." In a strange way, the rating agency does not mention the fact that Russia received ample lending opportunities through direct interaction with Chinese banks — moreover, at a significantly lower percentage than before the introduction of sanctions, Western “partners” offered Russia.
It is obvious that all these games with credit ratings are another example of pressure on those who are trying to pursue an independent policy in the world.
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