Russia out in the cold



The Russian fixed-income market had been looking forward to Standard & Poor’s sovereign upgrade for over a year. Ever since Moody’s made the sovereign investment grade in October 2003, investors and analysts were eagerly expecting S&P to follow suit. Fitch upgraded Russia in November 2004, but it was the S&P upgrade the market really coveted: with it would come inclusion in the key investment-grade indices – and potentially a whole new class of high-grade investors.

But three months after S&P ret

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: