The sanctions of the West can destroy Russia's hopes for rating upgrade

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The head of the unit of sovereign ratings agency Moritz Kremer said that at the moment the positive outlook for the Russian rating "BB +" remains "justified." However, "the deterioration of geopolitical risks may reduce the chances of an increase the rating."

"This is due to the fact that the consequences, for example, of tightening the sanctions regime may become an obstacle to the restoration of the Russian economy, taking into account financial, but also likely political risks."

At the same time, the agency sees "real" chances of lowering China's credit rating, Cramer said.

Now China is rated "AA-" with a negative outlook, but S&P closely follows Beijing's actions after Moody's agency downgraded the rating of the world's second-largest economy by one level in May due to the growing number of debts and a weakening of financial capacity.

 Kremer also said that the outlook for China's rating was negative, which indicated a real possibility of a downgrade.

He said that the decision is likely to be determined by China's ability to turn from a strategy fueled by lending to growth based on investment, in favor of a more balanced and sustainable strategy based on domestic consumption.