February 23, 2018 / 9:44 PM / 3 months ago

BRIEF-S&P Raises Russia’s Sovereign Credit Rating To BBB- From BB+; Lowers Outlook To Stable From Positive

Feb 23 (Reuters) - S&P:

* S&P RAISES RUSSIA’S SOVEREIGN CREDIT RATING TO BBB- FROM BB+; LOWERS OUTLOOK TO STABLE FROM POSITIVE

* S&P SAYS RUSSIA RATINGS RAISED TO ‘BBB-/A-3’ ON PRUDENT POLICY AND IMPROVED MONETARY TRANSMISSION; OUTLOOK STABLE

* S&P, ON RUSSIA, SAYS “RECENT FAILURES OF A NUMBER OF PRIVATE BANKS HAVE NOT UNDERMINED FINANCIAL STABILITY, AND WE SEE EARLY SIGNS OF A LENDING RECOVERY”

* S&P SAYS DEMONSTRATED COMMITMENT TO CONSERVATIVE MACROECONOMIC POLICIES WILL LIKELY KEEP RUSSIA’S EXTERNAL AND FISCAL BALANCE SHEETS STRONG

* S&P SAYS UPGRADE REFLECTS TRACK RECORD OF “PRUDENT” POLICY RESPONSE THAT ALLOWED RUSSIAN ECONOMY TO ADJUST TO LOWER COMMODITY PRICES, INTERNATIONAL SANCTIONS

* S&P, ON RUSSIA, SAYS ECONOMIC GROWTH HAS PICKED UP AND RECOVERY IS SET TO CONTINUE, ALTHOUGH AT A SLOW PACE

* S&P SAYS EXPECT RUSSIA'S ECONOMIC RECOVERY TO CONTINUE THROUGH 2021, HAVING EXITED RECESSION IN 2017 Source text: (bit.ly/2CFsqGX)

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