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. Last Updated: 07/27/2016

Moscow Outlook Alters

MOSCOW -- International rating agency Fitch IBCA has placed the Moscow government's long-term and short-term foreign currency ratings on Rating Watch Positive after City Hall met its Eurobond obligations worth $188.3 million, including principal and interest payment, due May 31.

The placement shows the city's rating will probably be raised in the future. Moscow's long-term rating is triple C and its short-term rating is single C.

It affects outstanding Eurobonds worth 545.6 million Deutsche marks ($266 million) and 439.5 billion lira ($216 million) due in April and May 2001 and a syndicated loan worth $295 million originally due in 2002, but which could be called for repayment earlier due to a put option written into terms of the loan agreement.