Investment in Russia and Eastern Europe Message Board

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Strategies & Market Trends : Investment in Russia and Eastern Europe

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To: Thomas Haegin who wrote (203)	6/8/1998 5:43:00 AM
From: Thomas Haegin	of 1301

Repost: Sberbank Downgraded To 'BB'; on Rating Alert Negative By Fitch IBCA Rating Downgrade for Russia's Sberbank - Fitch IBCA Financial Wire - ÿ PR Newswire - June 05, 1998 12:06 ÿÿÿÿ LONDON, June 5 /PRNewswire/ -- Following the decision taken to downgrade the Long-term foreign currency rating of the Russian Federation and place it on RatingAlert negative, Fitch IBCA has also downgraded the Long-term rating of The Savings Bank of the Russian Federation (Sberbank) from 'BB+' to 'BB', and placed it on RatingAlert negative. The bank continues to be rated at the sovereign ceiling, reflecting its majority ownership by the state and importance to the banking system. SOURCEÿ Fitch IBCA, Inc.ÿÿÿÿ -0-ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 06/05/98 /CONTACT:ÿ Jenny Alexander or Natasha Chubar, London, both for Fitch, +44

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