| RTS |
 |
| Source: Renaissance Capital |
Even before the arrest last month of Mikhail Khordorkovsky and the freezing of a large block of Yukos shares, Moody’s decision on October 8 to raise Russia’s sovereign credit rating, from Ba2 to Baa3, had been greeted with as much concern as joy. The RTS closed that day 3% up at an all-time high of 628.98. Yields for Russia’s 2030 Eurobond contracted by 40 basis points.
Mobile Telesystems and Magnitogorsk Metallurgiisky Kombinat, delayed bond issues to take advantage of the move.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
