Rating agencies underestimated the quality of the risk in Russia, according to AmCham

© Photo : courtesy Amamerican the American chamber of Commerce in Russia (AmCham) Alexis Rodzianko. Archive photoRating agencies underestimated the quality of the risk in Russia, according to AmCham© Photo : courtesy of AmCham

The «big three» rating agencies underestimate the risk, told RIA Novosti the head of the American chamber of Commerce in Russia (AmCham) Alexis Rodzianko.

International rating Agency Fitch improved the forecast on long-term Issuer default rating in foreign and local currency Russia to «BBB-» from stable to positive, which corresponds to the lowest rung of investment grade.

Now from the «big three» rating agencies, only Fitch this rating as an investment. S&P previously affirmed the long-term sovereign rating of Russia to «BB+» with positive Outlook, which corresponds to the highest rung of the speculative category. Moody’s assesses the rating of the Russian Federation at the level «Ba1».

«All agencies underestimate the quality of Russian risk. The market goes ahead: investors ‘ interest ahead of the interest of the agencies,» said Rodzianko, adding that he sees no reason to lower the rating of Russia.

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