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. Last Updated: 07/27/2016

Alrosa Issues Tranche

Moscow -- The board at Russian diamond company Almazy Rossy-Sakha, or Alrosa, has decided to begin issuing the second tranche of the firm's six-month discount bonds next Tuesday, the firm said Tuesday in a press release.

The 250-million-ruble ($9.6 million) tranche will have the same 39.5-percent annual yield as Alrosa's first tranche of bonds, issued last month.

Also Tuesday, the Standard & Poor's rating agency raised Alrosa's credit rating from CC to CCC, shifting its forecast for the firm from negative to stable, Prime-Tass reported.