MOSCOW, August 16 (RIA Novosti) - Fitch Ratings has affirmed Russia's issuer default rating at BBB+ in foreign and national currencies, with a stable outlook, the international rating agency said Thursday.
"The pick up in investment growth to around 20% this year increases confidence in Russia's medium-term growth prospects, while high oil prices are continuing to enhance its financial position and capacity to absorb shocks," said Edward Parker, head of Fitch's department for sovereign debt in emerging European markets.
Fitch also affirmed the country's short-term rating at F2 and the country ceiling at A-.
"Fitch expects the government to run a budget surplus of around 5% of GDP this year, which should allow it to reduce general government debt to just 9% of GDP at the end of 2007," the agency said.
