Downgrade of Russia by Western rating agencies Moody’s, Standart & Poors and Fitch Ratings is not justified, because in explaining the risk of sovereign debt Russia they use American standards and their conclusions less ideological, said the president of the Chinese rating agency Dagong Guan Jianzhong told «Xinhua», informs «Pacific Russia».

According to him, «Three» US rating agencies in the rating process takes into account factors such as the political system, the volume of GDP per capita, the degree of independence of the Central Bank, economic openness and the level of privatization in economy and finance, as well as the right to issue international reserves.

«All of them are ideologically criteria and do not answer the question about the relationship between the income of the central government and its ability to repay debts. If we use these standards to describe the risks the United States, then, of course, it can be concluded that the United States has never defaulted waiting, because they can extinguish their debts by the inclusion of the printing press. It is obvious that these criteria are unfair», — said Guan Jianzhong.

However, despite the obvious injustice to reduce Russia’s credit rating, it will still have a negative impact on the liquidity of the Russian companies, he said.

There is an international rating system head Dagong called the «tool for the dissemination of US hegemony.» «I must say that in this way for the whole of human society became apparent urgent need to reform the international rating system,» — said a Chinese economist.

In contrast to the «troika», Dagong in January this year awarded Russian rating of «A» with a stable outlook.

«Our base was simple — we mainly consider what impact the Western sanctions against Russia will have on the ability to repay debt of the central government of the Russian Federation. We believe that, although Western sanctions had a significant impact on the conditions for the development of the Russian economy, the central government has has sufficient foreign exchange reserves, and sanctions from Western countries have not yet had a negative impact on its ability to repay debts», — said Guan Jianzhong.

S&P has downgraded in January’s sovereign credit rating of the Russian Federation in foreign currency to speculative grade «BB+» with investment «BBB-», outlook — negative. In mid-January, Fitch also downgraded Russia to the lowest rung of investment grade «BBB-» with a negative outlook. In February, Moody’s decided to downgrade the rating of the Russian Federation to the speculative grade «Ba1». Thus two of the three leading rating agencies assess the rating of the Russian Federation below investment grade.