07 June 2004 07:36
No regrets over investment-grade rating for Russia - Moody`s
MOSCOW. June 7 (Interfax) - The Moody's ratings agency is sure it made the correct decision in assigning an
investment grade rating to Russia in October 2003 and remains optimistic about Russia's economic development
potential, with Moody's President John Rutherfurd said at an Interfax press conference Monday.
Looking back at that decision, it can be said that various areas were correctly forecast, especially the achievement
of political stability in the country, he said. However, in some areas the forecasts were not completely on target, but
what happened favored Russia, with high oil prices enabling higher contributions to the stabilization fund and adding to
gold and foreign currency reserves, he said.
Moody's remains optimistic about the development potential for Russia's stock and government debt markets.
The banking sector is not yet large enough to speak of significant development potential, he said. [RU ASIA EUROPE EEU
EMRG AAA POL ECI ENR GDM GOL CEN FRX GVD STX BNK] me
[Interfax] |
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