Russia’s Credit Outlook Raised by S&P as Recession Nears End

The outlook on Russia’s junk credit rating was raised by S&P Global Ratings with the end in sight for the nation’s longest recession in two decades.

S&P lifted the outlook to stable from negative, maintaining its foreign-currency rating of BB+, one step short of investment grade and on par with Bulgaria and Indonesia. Moody’s Investors Service also has Russia at that level, while Fitch Ratings has the country at its lowest investment rating.