S&P affirms Russia at 'BBB-/A-3', outlook stable - Reuters

S&P Ratings has recently announced that it affirmed Russia's rating at  'BBB-/A-3' and said the outlook was 'stable'.

Key quotes (via Reuters)

• Likelihood of current U.S. government imposing sanctions on secondary market for Russian sovereign bonds remains uncertain.
• Russia's balance sheets, flexible exchange rate, prudent fiscal framework, should enable it to absorb shocks from possible new sanctions.
• Scenario where U.S. government imposing sanctions on secondary market for Russian sovereign bonds would be disruptive to financial markets.
• Russia's stable outlook factors in S&P's assumption of an adequate government policy response in the event of additional sanctions.
• Policymaking will continue focusing on preserving macroeconomic stability.
• Expectation is Russian authorities would focus on containing macroeconomic risks arising out of new sanctions & limiting retaliatory actions.
• Political tensions between U.S. and Russia raise possibility of future sanctions.
• Could take negative rating action in 24 months if geopolitical events result in foreign governments introducing materially tighter sanctions on Russia.
• Russia's external position remains a credit strength.
• Could also take negative rating action if we saw a risk of a material deterioration in russia's budgetary trajectory.