European Agency Assigns Russia a Rating Higher Than S&P and Moody’s
The main reasons for Scope's decision are the significant monetary reserves of the Russian state and the country's increased resistance to external risks. A "stable" outlook indicates that, according to Scope, the risks will be balanced in the future 12-18 months.
A similar assessment was previously put to Russia by Fitch. Standard & Poor's assigned a lower rating - at BBB-. S&P took the risk of tougher sanctions more seriously and pointed to "uncertainty about the mechanism of transfer of power in 2024." Since February 2019, Moody's, like S&P, has kept Russia at the lowest investment level (Baa3).
According to the results of 2019, the federal budget surplus of the Russian Federation amounted to 1.8% of the preliminary estimate of GDP, or almost 2 trillion rubles. In the future, Russia will maintain a moderate budget surplus of about 1% of GDP in 2020–2022, given the further increase in funding for national projects, Scope predicts.