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Moody's upgrades Russia's credit rating to investment grade with stable outlook

Global credit rating agency Moody's has upgraded Russia's status from Ba1 to Baa3 with a stable outlook. Acknowledging a “positive impact” that Russian government policies have had on containing “the economic and financial impact of the twin shocks created by the fall in the oil price and the imposition of international sanctions,” the agency has raised Russia’s credit rating from ‘junk’ level to ‘investment’ grade.