International rating agency Fitch downgraded the credit rating of Russia – Ekho Moskvy radio station

International rating agency Fitch downgraded the credit rating of Russia – Ekho Moskvy radio station

Now he’s on the verge of “junk level.”

The decision of Fitch influenced by factors such as the fall in oil prices, the sharp collapse of the ruble and the rise of the key rate to 17%, leading to a rise in the cost of credit. On the agency’s website says that the Russian economy continues to have a negative effect Western sanctions, because of which the Russian banks and state corporations are unable to obtain the currency on the foreign markets. Fitch analysts have revised its forecast for Russia’s economic prospects for the worse.

If before they expected economic contraction and a half per cent, but now all four. Downgrade Russia another step will mean a transition zone in the so-called junk level, there is a danger for investment.

The first reduce Russia’s rating to “junk” can agency Standart & amp; Poors. It is expected to announce its decision before the end of the month.