Standard&Poor's To Consider Possible Increase In Russia' Rating At Beginning Of 2002

Standard&Poor's is going to increase the credit rating of Russia in the future but it is difficult to say how significant this increase will be and when it will take place, the managing director of the rating agency for Russia announced at a press conference today. She explained that, according to the Standard&Poor's President, the agency's experts and analysts will arrive in Russia at the beginning of 2002 and make the final decision on this issue. The managing director stressed that the change in Russia's rating from stable into positive reflects positive tendencies in the development of the Russian economy. Standard&Poor's believes this tendency will continue in the future. As of now, the credit rating of Russia is set at B level with a forecast for a positive level.