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Russia Credit Rating Downgrade


January 2015
The credit rating agency Fitch downgraded on January 10, 2015 Russia's credit rating from previous BBB to BBB-, one step over the junk level retaining the negative outlook.
The downgrade follows worries about the effects of the sanctions and the falling oil prices.


Russia Interest Rate Rise


December 2014
The Russian central bank raised the interest rate dramatically on December 16 from the previous 10.5% to 17%, the sixth interest rise since the beginning of the year.
The interest rise is aimed to prevent further devaluation of the Russian currency due to the economic sanctions and the drop of the oil price.
Russia also informed that if the oil price remains around $ 60 the Russian GDP in 2015 is expected to drop by 4.5%.


Russia Credit Rating Downgrade


May 2014
The credit rating agency Standard & Poor's downgraded on April 25, 2014 Russia's credit rating from previous BBB to BBB-, one notch about the "junk" status.
The downgrade follows the deteriorating situation in Ukraine resulting in financial outflows by foreign investors.
On the same date the Russian central bank raised its key interest rate from 7% to 7.5% trying to defend the Russian rouble.


Russia Credit Rating Downgrade


March 2014
The credit rating agency Fitch downgraded on March 21, 2014 Russia's outlook reflecting the potential effect of the sanctions imposed on Russia.
Earlier the credit rating S&P's cut Russia's credit rating outlook from stable to negative.
S&P's lowered the growth forecast of the Russian economy to 1.2% compared to the previous December forecast of 2.2%.


Russian Banks' Earnings hike 60%


August 2011
The Russian banks' earnings for the months January to July 2011, excluding Sberbank, totaled 278.5billion rubles, an increase of 60% compared to 176 billion in the same period in the previous year.
The bank of Russia forecasts an increase of the banks' loan portfolio by 20-25% in 2011 and 2012 compared to 2010.
Source :www.banki.ru via Ria Novosti





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