September 22, 2017 / 8:41 PM / a year ago

Fitch revises up Russia outlook to positive, affirms rating

Sept 22 (Reuters) - Ratings agency Fitch revised its outlook on Russia’s long-term foreign- and local-currency issuer default ratings to positive from stable.

Fitch, which also affirmed Russia’s rating at “BBB-“, said the country continues to make progress in strengthening its policy framework, underpinned by a more flexible exchange rate, strong commitment to inflation targeting and a prudent fiscal strategy.

Standard & Poor’s Global Ratings last week retained Russia’s long-and short-term foreign currency rating at ‘BB+/B’ with a positive outlook. (Reporting by Pranav Kiran in Bengaluru)

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