MOSCOW, February 4 (RIA Novosti) - The international rating agency Fitch announced on Wednesday it had lowered ratings and rating outlooks for a number of Russian companies following a downgrade of Russia's sovereign rating.

Fitch downgraded Russia's long-term foreign and local currency rating from "BBB+" to "BBB" and its short-term foreign currency rating from "F2" to "F3," with the outlook for Russia's long-term ratings remaining negative.

Following the move, Fitch lowered the long-term foreign and local currency ratings of state-controlled Russian Railways (RZD) to "BBB" from "BBB+," with the outlook remaining negative.

The long-term foreign and local currency ratings of the majority state-owned Sukhoi Civil Aircraft Corporation were downgraded to "BB" from "BB+," with the outlook also remaining negative, Fitch said.

The long-term foreign currency rating of Federal Hydrogeneration Company RusHydro was lowered to "BB+" from "BBB-," with the outlook remaining negative.

Fitch also revised from stable to negative the foreign currency rating outlooks for energy giant Gazprom and crude producer Rosneft.

Explaining its decision to cut Russia's sovereign rating, Fitch said: "The downgrade reflects the negative impact on Russia from the fall in commodity prices and the dislocation to global capital markets that has left Russian banks and companies struggling to refinance external debt, and the difficulties Russia faces in managing the necessary macroeconomic policy adjustments."

According to Fitch, the scale of capital outflow and the pace of decline in Russian's foreign exchange reserves have considerably weakened Russia's sovereign balance sheet.