Moody’s affirmed the sovereign rating of the Russian Federation at the level of “Ba1″ with a negative outlook – Economic Information Agency PRIME

Details added (third paragraph).

MOSCOW, April 23 / PRIME /. International rating agency Moody’s affirmed the sovereign rating of Russia at the level of Ba1, outlook negative, according to a press release from the agency.

Moody’s has put Russia on March 4 Ba1 rating on review for a fall. The reasons for the rating confirmation steel economic stability for the resumption of falling oil prices, as well as the effective correction of the budget.

The negative forecast is made on the basis of the probable reduction of cost savings in the context of medium-term projections Agency on oil prices. On top of that Moody’s points to insufficient quick implementation of reforms aimed at fiscal consolidation.