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MOSCOW (Standard & Poor's) Jan. 23, 2007--Given the high concentration of
power within the presidential administration, the election of a new president
in 2008 could significantly raise political imponderables in Russia, according
to "Which Way For Russia's Sovereign Rating: Road To Riches Or Slippery Slope,"
which was published by Standard & Poor's Ratings Services on Jan. 19, 2007,
and is the cover article of a special issue of Standard & Poor's CreditWeek to
be published Jan. 24, 2007.
"Fiscal prudence following the elections could further bolster Russia's
creditworthiness," said Moritz Kraemer, Standard & Poor's credit analyst and
managing director, European Sovereign Ratings. "Conversely, significant policy
slippages would undermine the foundations of Russia's recent economic
successes and could lead to downward pressure on the sovereign ratings, as
could an unforeseen political crisis or a sharp slump in commodity prices,"
added Mr. Kraemer, who is the author of the cover article.
Mr. Kraemer will join other senior Standard & Poor's analysts on January
25 in a seminar hosted by Standard & Poor's on the outlook for the Russian
banking sector, "Banking In Russia 2007." Among the speakers will also be
Alexei Novikov, Standard & Poor's Moscow office head, and John Gibling, head
of Russian bank ratings.
In the January 24 expanded special issue of CreditWeek, the global
authority on credit quality, Standard & Poor's analysts take another in-depth
look at Russia, this time from two perspectives: 1) credit quality; and 2)
corporate governance, transparency, and disclosure. In a wide range of
articles, credit analysts review risks involved in Russian asset-backed
securitization deals; the factors driving ratings of Kazakh, Russian, and
Ukrainian banks; and how Russian steelmakers seek to secure market access and
diversify the production base through foreign acquisitions. Previous special
reports have examined the role played by Russia on the international energy
scene. In this issue, governance analysts also examine how corporations and
banks in Russia and Ukraine are measuring up to international standards of
governance and how improved transparency and disclosure would help to attract
investors in the future. All of the articles are also available on
RatingsDirect, the real-time Web-based source for Standard & Poor's credit
ratings, research, and risk analysis.
The report is available to subscribers of RatingsDirect, the real-time
Web-based source for Standard & Poor's credit ratings, research, and risk
analysis, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber,
you may purchase a copy of the report by calling (1) 212-438-9823 or sending
an e-mail to research_request@standardandpoors.com. Ratings information can
also be found on Standard & Poor's public Web site at
www.standardandpoors.com; under Credit Ratings in the left navigation bar,
select Find a Rating, then Credit Ratings Search. Alternatively, call one of
the following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605; Paris (33)
1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5914; or
Moscow (7) 495-783-4017. Members of the media may also contact the European
Press Office by sending an e-mail to media_europe@standardandpoors.com.
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