Issuer Default Rating of Russia in national and foreign currencies agency Fitch downgraded from BBB to BBB-. This bar is considered high-risk and dangerous for investment
In its rationale Fitch refers to the sharp drop in oil prices and the ruble as well as increasing the key rate in the second half of 2014, which was a “serious shock” to the Russian banking sector.
Fitch does not rule out that the banks may require further government support. Commented vice president of investment company “Gold Mint House” Alex Vyazovsky.
Alex Vyazovsky
vice president of investment company “Gold Mint House»
Fitch also downgraded economic recession in Russia in 2015, considering that it will be reduced by 4%, and that economic growth will resume no earlier than 2017.
The average price of oil is projected Fitch, next year will be $ 70 per barrel.
In Moscow Fitch called the decision “politically partisan, non-partnership, and cost is absolutely not motivated.
On the eve of Bloomberg reported that Russia entered the top five countries with a high probability of default. This means that in the coming months the agency S & amp; P may downgrade the sovereign rating of Russia.
As the decision by Fitch affect the trading in Russia, which opened on Monday, and what to expect from the ruble, says Head of Research “Alpha Forex» Andrew Dirgin.
Andrew Dirgin
Head of analysts’ Alpha Forex »
On Thursday, with a forecast of a possible default of Russia made known financier George Soros. According to him, due to a sharp drop in oil prices hit Western sanctions on the country more than it expected European and American leaders.
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