Fitch drops Moscow, Saint Petersburg to stable

Fitch Ratings said it revised the City of Moscow's and City of Saint Petersburg's outlooks to stable from positive and affirmed their long-term foreign- and local-currency ratings at BBB.

The outlook revision follows the recent revision of the outlook on Russia's long-term foreign- and local-currency issuer default ratings.

The agency also affirmed Moscow's long-term foreign- and local-currency ratings at BBB, short-term foreign-currency rating at F3 and national long-term rating at AAA(rus).

The agency also affirmed Saint Petersburg's long-term foreign- and local-currency ratings at BBB, short-term foreign-currency rating at F3 and national long-term rating at AAA(rus).

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