Fitch upgrades Russia’s credit rating

Russia's credit rating was lifted on Friday by Fitch Ratings, which cited strong fiscal policies and a commitment to inflation-targeting. Report informs referring to the statement of agency.

The sovereign rating was lifted to "BBB", the second lowest investment grade, with a stable outlook.

"Russia has entrenched a credible and consistent policy framework that will deliver improved macroeconomic stability, reduce the impact of oil price volatility on the economy, and support increased resilience to external shocks," analysts Erich Arispe and Paul Gamble said in the statement.