Standard&Poor's confirms Russia's investment rating, inspite of YUKOS affair

The international investment rating agency Standard&Poor's has confirmed its long-term credit rating for the Russian Federation issuing a BB for obligations in foreign currency and BB+ for obligations with national currency. The company's official statement says that Standard&Poor's also confirms the short-term credit rating for Russia for obligations in foreign and national currency issuing a level of B. The prognosis for long-term investment rating, therefore, remains stable.

The confirmation of the ratings reflects the opinion of Standard&Poor's that the existing sovereign ratings already calculate the risk of the YUKOS affair, according to the company's statement. Standard&Poor's proposes that in the short-term risk in Russia is minimal calculating large reserves of liquidity in the country and significant short-term flexibility of the tax-budget system.

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