04 June 2004 07:48
Zhukov hopes agencies follow Moody`s in rating Russia (Part 2)
MOSCOW. June 4 (Interfax) - The Russian government hopes that leading rating's agencies will follow Moody's
example and assign Russia a credit investment rating, Deputy Prime Minister Alexander Zhukov said at a meeting with
president and board chairman of Moody's Investors Service agency John Rutherford.
"Moody's was the first among the three leading world agencies to give Russia this rating," Zhukov
said. He added that he is sure that Moody's "will not be disappointed after giving the Russian economy this
evaluation."
A source in Zhukov's office told Interfax that the economic situation in Russia and prospects for further
economic reforms were discussed at the meeting.
Zhukov said that in the first five months of 2004, Russia's GDP grew by 8%. He said the government intends to
keep inflation at 10% in 2004.
Measures to maintain the fast pace of economic growth in Russia and improve the population's quality of life
were also discussed at the meeting.
Moody's intends to develop its cooperation with the Interfax
group, which has been active for several years. In particular, it
Zhukov said that in conditions of political stability and a favorable economic situation, the government has the
opportunity to accelerate structural reforms.
He noted the importance of new bills that are currently being examined by the Duma. These include bills directed at
easing taxes for Russian companies and substituting the privileges that some social groups receive with financial
compensation. Zhukov said these measures will reinforce the economy and improve people's lives.
Rutherford told Zhukov about Moody's plans to expand its activity on the Russian market.
intends to actively cooperate with the Interfax Rating Agency.
Zhukov expressed his satisfaction with the development of Moody's cooperation with Interfax, which he called
"one of the most authoritative news agencies in Russia."
According to two other ratings agencies, Standard&Poor's and
Fitch, Russia's credit rating is currently one level below the
He said he hoped the Interfax Rating Agency "will become as authoritative" as the group's information
service.
Interfax's General Director Mikhail Komissar took part in the meeting.
Currently, Moody's is the only international ratings agency to have upgraded Russia's long-term currency
rating from Baa3 to Ba2 in October 2003.
investment rating.
A group of Moody's analytical experts are working in Moscow this week. Moody's Investors Service Vice
President Jonathan Schiffer told the Interfax Financial Information Agency that this is not related to Russia's
investment rating, but rather to assigning a rating status to a Russian company. [RU EUROPE EMRG ASIA EEU ECI AAA] aa tl
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