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. Last Updated: 07/27/2016

Moody’s Ratings Move

Moody’s Investors Service on Wednesday placed on review for a possible upgrade the medium-to-long-term foreign currency ceilings for both the country and bank deposits, the government’s medium-to-long term local currency rating for OFZ savings bonds and the ratings for the sixth and seventh tranches of Finance Ministry obligations.

Moody’s said in a statement that all outstanding Eurobond obligations of the Russian Federation are also on review for possible upgrade.

The rating agency hailed the government’s "aggressive implementation of important political and economic reforms.

"The combined affect of these actions is to … enforce adherence to central government legislation and economic policy dictates throughout the whole federation," the agency said.