S&P lifts Russian sovereign outlook to positive from stable - RTRS

Standard and Poor's, which currently rates Russia BB+, said on Friday it has raised Russia's sovereign outlook to positive from stable, expecting growth to improve as the country emerges from a two-year recession, as reported by Reuters News.

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• We expect GDP growth in Russia will pick up, averaging about 1.7 percent in 2017-2020
• We see a lower risk of large capital outflows, therefore moderating external pressures
• We might raise Russia's ratings if the economy continued to adapt to the relatively low oil prices

Following the announcement, Russian Economy Minister Maxim Oreshkin said in a statement: "A precondition for the rating to be raised to investment grade this year is the finalization of a plan of structural changes and the start of its implementation.".