MOSCOW, March 10 (UPI) -- Standard and Poor's has warned that Russia's future as a stable home for business is still shaky and unclear, Moscow Times reported Wednesday.
"At the moment, it is unclear whether Russia is poised for progress or will regress into an environment where businesses operate under the threat of political intrigues, personal power plays, and ineffective or parasitic bureaucrats," the rating agency said, according to the newspaper.
The internationally respected agency warned that Russia's institutional structure remained weak and that this was the "key constraint" on the quality of corporate credit. Therefore corporate ratings in Russia "are likely to be volatile in the year ahead," it said.
Moscow Times said there was good news for Russia too in the report. It gave the giant nation upgrades in 14 ratings categories. However, "the most common corporate long-term rating is still the low "B-", and outlooks -- reckonings of future changes in ratings -- have worsened," the paper said.
