Moody's says Russian economy resilient to latest US sanctions
Rating agency Moody's Investors Service said on Wednesday Russia's strong public and external finances would shield its economy from the impact of the latest US sanctions.
However, the sanctions will be credit negative for some Russian debt issuers, especially Russian aluminum giant United Company Rusal Plc, Moody's said in a report.
The Russian banking system has enough earnings capacity for absorbing credit losses arising from exposures to sanctioned companies, the rating agency said.
Moody's assessment is in contrast to that of Fitch Ratings, which said last week the US sanctions would limit Russia's potential economic growth and severely impact targeted companies.
