Source Pravda.Ru

Fitch stands up for Russia

Fitch Ratings did not share the Standard & Poor's and Moody's analysts ratings and did not lower Russia's rating to non-investment grade. According to Charles Seville, the Senior Director at Fitch Ratings, such a decision was taken as Russia really has a low external debt volume, and possesses significant reserves and financial assets.

Roman Tkachuk, senior analyst at the "Pragmatika" investment company told Pravda.Ru why Fitch became the only international agency not lowering the Russia' economy rate.

According to him, Fitch is a more loyal agency than S&P. It may be related to the fact that its headquarters are situated in New York and London, while S&P is a completely American company. "Europeans are more loyal to us. Nonetheless, Fitch has a more objective rating. Russia has problems, but it is unjust to give it a non-investment grade, as S&P does," Tkachuk noted.

He also pointed out that Russia' debt to GDP is one of the smallest ones among all of the countries, while Japan has the biggest one. "Russia possesses quite a comfortable debt level, and it can service it even given the present problems in economy," the expert explained.

Also read: International ratings mean nothing to Russia

Pravda.Ru

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