Russia may struggle to keep investment grade rating if oil prices don't recover - Fitch

LONDON Thu Jan 15, 2015 5:31am EST

LONDON Jan 15 (Reuters) - Russia may struggle to maintain its investment grade credit rating if the price of crude oil fails to recover from six-year lows, rating firm Fitch said on Thursday.

"If oil prices fail to recover from around 50 dollars a barrel or so then the pressures on the Russian economy in terms of the recession and depletion of foreign exchange reserves is going to be very strong," Ed Parker, one of Fitch's top sovereign analysts said at a conference.

"That will certainly make it that much harder for Russia to stay investment grade."

Fitch rates Russia BBB-, one notch above a drop into junk, and has a negative outlook. (Editing by Dominic Evans)

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