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. Last Updated: 07/27/2016

S&P Rating on Hold

Standard & Poor’s international credit rating agency does not plan to review Russia’s overnight sovereign debt rating in the next few months, said S&P director George Dallas late Friday, Interfax reported.

A key condition for an upgrade in the credit rating will be that the country move out of the area of "selective default," i.e. that Russia complete the restructuring of Minfin3 and reach a debt servicing agreement with the Paris Club of sovereign lenders, Interfax said.

"We expect both these events to happen before the end of 2000. It is therefore possible that Russia’s credit rating still will be upgraded this year, which will cause an automatic increase in investor interest in the country’s assets," Troika Dialog said in a business note.