S&P called the unlikely improvement in the credit rating of Russia

Raising the sovereign rating of Russia “in the foreseeable future is unlikely, said a senior Director of sovereign ratings Agency Standard & Poor’s Christian Esters in an interview with Bloomberg. He said that increase of a rating of Russia may not occur for three years.

At the same time, Esters admitted that “really pleasant surprise”, for example, the sharp rise in oil prices, may accelerate the repayment of credit rating of Russia to investment level.

Esters noted that growth in the 1-2%, which is expected in Russia next year, is “a little”.

Last week S&P keeps Russia’s credit rating at BB+, which is considered non-investment (or “junk”). The Agency improved the rating Outlook from “negative” to “stable”.