HALISTER1: Moody’s Sees Limited Effect From Any Delay in Russian Eurobond

Moody’s Sees Limited Effect From Any Delay in Russian Eurobond

(Bloomberg) -- Russia’s planned $3b Eurobond sale represents ~6% of Moody’s projected 3.1 trillion-ruble federal budget deficit for 2016, Kristin Lindow, senior VP at Moody’s Investors Service, says by e-mail.
  • Russian officials have said that most of financing this yr will come from domestic market
  • If conditions domestically prove to be unexpectedly challenging, govt can tap into reserve fund
  • “While it’s not yet certain that Russia’s plan to issue Eurobonds will ultimately be stymied as a consequence of sanctions-related considerations among U.S. and European banks and investors, the amount planned to be raised by this route was relatively small at $3 billion.”
  • NOTE: Banks Ask Russia to Guarantee Eurobond From Sanctions: RBC
  • NOTE: Russia Said to Face Eurobond Setback as Many Banks Shun Deal
  • NOTE: Russia Loses Buyside Support for Eurobond After Banks Balk
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Kristin Lindow (Moody's Investors Service Inc)

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