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BRIEF-S&P affirms ratings on Russian Federation at 'BB+/B' and 'BBB-/A-3'
September 15, 2017 / 9:30 PM / 2 months ago

BRIEF-S&P affirms ratings on Russian Federation at 'BB+/B' and 'BBB-/A-3'

Sept 15 (Reuters) - S&P Global Ratings:

* S&P says Russian Federation ‘BB+/B’ and ‘BBB-/A-3’ ratings affirmed; outlooks positive

* S&P says ongoing recovery and post-election reform momentum could lift Russia’s currently “low potential growth, despite sanctions and low oil prices” ‍​

* S&P says Russia’s banking sector is fragile, demonstrated by the recent failure of one of the largest private banks

* S&P says Russia’s positive outlook indicates S&P may raise ratings if recovery in economic trend growth continues

* S&P, on Russia’s banking sector, says fiscal and macroeconomic risks seem to be contained and S&P sees early signs of lending growth recovery

* S&P says Russia’s positive outlook indicates S&P may also raise ratings if preserved financial stability translates into stronger bank lending activities‍​

* S&P says Russia’s ratings supported by Russia’s strong external, fiscal balance sheets, but remain constrained by assessment of Russia’s economy

* S&P, on Russia, says real GDP to likely increase by 1.8 pct in 2017, by average of 1.7 pct in 2017-2020, supported by rebound of oil prices, among other factors

* S&P says could revise Russia’s outlook to stable or take negative rating action if geopolitical events result in foreign government introducing significantly tighter sanctions

* S&P says could take negative action on Russia’s rating if efforts to maintain financial stability incur higher fiscal costs

* S&P says could also take negative action on Russia’s rating if efforts to maintain financial stability impair monetary policy credibility, effectiveness

* S&P says expects Russia’s economic recovery to continue through 2020 after a two-year recession

* S&P says new U.S. sanctions bill is unlikely to undermine Russia’s ongoing economic recovery in the short term

* S&P says ongoing structural issues, such as weak business environment, geopolitical tensions, sanctions drag on Russia's long-term economic growth prospects Source text (bit.ly/2fb4khp)

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