Finance safety

Fitch Ratings, an international credit rating agency, downgraded 30 Russian financial institutions, including Vnesheconombank and Sberbank, the company reported on Friday.

The list also includes Russian Agricultural Bank, Gazprombank, Rosbank and Rosagroleasing, as well as Russian Highways State Company (AVTODOR) and Post of Russia.

The rating actions follow the downgrade of Russia’s sovereign ratings. On January 10, Fitch downgraded Russia’s Long-term foreign and local currency IDRs to “BBB-“ from “BBB” with negative outlook.

 Fitch downgrades Russian financial institutions