Russia's investment grade status shielded by its reserves and fast reaction: Fitch

London

RUSSIA'S reserves and fast reaction as the economy sped towards recession underpin its investment-grade status, said Paul Rawkins, a senior director at Fitch Ratings.

Fitch, the only major credit assessor to still rate Russia's foreign currency debt as investment, may review the "BBB-" rating next month, London-based Mr Rawkins said in a phone interview. A reserves stockpile topping US$360 billion is ample to contain the crisis, while a widening current account surplus and a more realistic budget are also supportive, he said.