Russian Federation Credit Ratings & Outlooks

Country	Moody's	S&P	Fitch	DBRS	Scope Ratings
Russian Federation	Ca Negative	NR —	C —	NR —	NR —

Credit Rating History

Country	Date of Change	Rating Agency	Previous Rating	Previous Outlook	Current Rating	Current Outlook
Russian Federation	Apr 08, 2022	S&P	CC	Negative Watch	NR	—
Russian Federation	Mar 17, 2022	Scope Ratings	C	Under Review	NR	—
Russian Federation	Mar 17, 2022	S&P	CCC-	Negative	CC	Negative Watch
Russian Federation	Mar 10, 2022	Scope Ratings	CCC	Under Review	C	Under Review
Russian Federation	Mar 08, 2022	Fitch	B	Negative Watch	C	—
Russian Federation	Mar 06, 2022	Moody's	B3	Under Review	Ca	Negative
Russian Federation	Mar 04, 2022	Scope Ratings	BB+	Under Review	CCC	Under Review
Russian Federation	Mar 03, 2022	S&P	BB+	Negative	CCC-	Negative
Russian Federation	Mar 03, 2022	Moody's	Baa3	Stable	B3	Under Review
Russian Federation	Mar 02, 2022	Fitch	BBB	Stable	B	Negative Watch
Russian Federation	Mar 01, 2022	Scope Ratings	BBB+	Stable	BB+	Under Review
Russian Federation	Feb 27, 2022	S&P	BBB-	Stable	BB+	Negative
Russian Federation	Oct 29, 2021	Scope Ratings	BBB	Stable	BBB+	Stable
Russian Federation	Jan 17, 2020	Scope Ratings	BBB-	Positive	BBB	Stable
Russian Federation	Aug 09, 2019	Fitch	BBB-	Positive	BBB	Stable
Russian Federation	Jul 26, 2019	Scope Ratings	BBB-	Stable	BBB-	Positive
Russian Federation	Feb 08, 2019	Moody's	Ba1	Positive	Baa3	Stable
Russian Federation	Feb 23, 2018	S&P	BB+	Positive	BBB-	Stable
Russian Federation	Jan 25, 2018	Moody's	Ba1	Stable	Ba1	Positive
Russian Federation	Oct 27, 2017	Scope Ratings	NR	—	BBB-	Stable

Table Key

Grade	Moody's	S&P	Fitch	DBRS	Scope Ratings
Prime	Aaa	AAA	AAA	AAA	AAA
High Grade	Aa1	AA+	AA+	AA (high)	AA+
	Aa2	AA	AA	AA	AA
	Aa3	AA-	AA-	AA (low)	AA-
Upper Medium Grade	A1	A+	A+	A (high)	A+
	A2	A	A	A	A
	A3	A-	A-	A (low)	A-
Lower Medium Grade	Baa1	BBB+	BBB+	BBB (high)	BBB+
	Baa2	BBB	BBB	BBB	BBB
	Baa3	BBB-	BBB-	BBB (low)	BBB-
Non-investment Grade Speculative	Ba1	BB+	BB+	BB (high)	BB+
	Ba2	BB	BB	BB	BB
	Ba3	BB-	BB-	BB (low)	BB-
Highly Speculative Grade	B1	B+	B+	B (high)	B+
	B2	B	B	B	B
	B3	B-	B-	B (low)	B-
Substantial Risk Grade	Caa1	CCC+	CCC+	CCC
	Caa2	CCC	CCC	CCC	CCC
	Caa3	CCC-	CCC-	CCC
Extremely Speculative Grade	Ca	CC	CC	CC	CC
Extremely Speculative Grade			C	CC	C
In Default with Little Prospect for Recovery		CD	RD	RD
In Default		SD		SD
	C	D	D	D	D
			DD	DD
			DDD	DDD
Not Rated	NR	NR	NR	NR	NR

FAQ

What is Russian Federation’s current credit rating?

Russian Federation’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Russian Federation’s credit risk.

Has Russian Federation’s credit rating changed recently?

This page lists the latest rating and outlook actions for Russian Federation, showing when each agency last reviewed or changed its assessment.

Why does Russian Federation’s credit rating matter to investors?

Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Russian Federation's bond yields, currency, and equity flows as investors reassess risk.

How does Russian Federation’s rating compare to other countries?

You can explore how Russian Federation ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.

What do outlooks like Positive, Stable, and Negative mean?

They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk

What is the difference between investment grade and speculative grade?

Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.