Moody's confirms Russia's sovereign credit rating at Baa3

The international ratings agency Moody's confirmed the day before Russia's sovereign domestic and foreign currency debt rating at Baa3, the agency's report says.

The rating's forecast is "stable".

In Moody's opinion, the negative events in the Russian banking sector of the last few days will not affect the country's positive macroeconomic indices.

The agency's experts believe that with the Russian government having at its disposal $85billion of foreign currency reserves and over $6 billion in the stabilization fund, there will be no problems with the country's solvency.