Ratings agency Moody’s has upgraded the Russian government bond rating from negative to stable, citing the stabilization of Russia’s external finances, RT reported. Moody’s attributes this to a macroeconomic adjustment that has helped to mitigate the effect of the fall in crude prices on official forex reserves. Another key factor for the change according to the ratings agency was “the diminished likelihood of the Russian economy or finances facing a further intense shock in the next 12 to 18 months, such as from additional international sanctions given some easing of the conflict in eastern Ukraine.”
