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IN THE WAKE of 1998’s financial melt down in Russia there are still investors for whom the thought of exposure to Russian gas company Gazprom in even dollar Eurobond format induces a cold sweat. Even the comfort factor of Gazprom’s investment grade ratings, the tried-and-tested legislation governing Euromarket issuance and the fact that the company is effectively an extension of the again mighty Russian state would still cause them palpitations.
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