S&P: Russia outlook to stable

S&P said it revised its outlook on Russia to stable from negative and affirmed its BB+/B long- and short-term foreign currency and BBB-/A-3 long- and short-term local currency sovereign credit ratings.

The agency also affirmed the long-term national scale rating at ruAAA.

S&P said the outlook revision reflects its view that external risks have abated to a significant extent. The agency expects the Russian economy and policy making will continue to adjust to the lower oil price environment and that the country will maintain its strong net external asset position and moderate net general government debt burden in 2016-2019.

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