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. Last Updated: 07/27/2016

Russian Credit likely Rated 'B'

A senior Finance Ministry official said Wednesday that a U.S. credit-rating agency evaluating Russia before a planned Eurobond issue had a positive impression but that the country would not be rated as highly as European countries.

"As for Spain, that's too optimistic," Deputy Finance Minister Oleg Vyugin told Reuters.

Economics Minister Yevgeny Yasin had expressed hopes Russia could be judged on par to Greece, Spain or Portugal, but most Western bankers expect it to receive a lower rating in the range of "B+" to "BB-," roughly in line with other emerging economies.

Market rumors swirled Wednesday that the minister responsible for the long-awaited Eurobond issue, Mikhail Kazyanov, had been dismissed, but his secretary said he was still at his post. Other Finance Ministry officials said they knew nothing of the talk in the marketplace.

ov was "still working. He is at the [State] Duma now and has a meeting later at the White House," the secretary said Wednesday afternoon.