Russia's credit rating now BBB
On August 9 Fitch Ratings lifted Russia's credit rating to BBB. Fitch said the rating move was due to sound public spending policy and a proper strategy to limit inflation. BBB is still the second lowest rating for countries that are basically stable. Standard and Poor's also rates Russia at BBB. Russia's rating is the same as Italy. Both countries also have an economy of about the same size.Russia's macroeconomic policy is widely believe to be wise. It is handling oil price fluctuation well. Ironically sanctions may have helped Russia's economic health. The government has been forced to be circumspect. Monetary policy is conservative and the country has USD 500 billion in reserves. Sanctions have only dented Russian economic growth by 0.2% each year.