08/13/1998 16:54:42 S&P cuts Russia's foreign currency debt ratings
NEW YORK, Aug 13 (Reuters) - Standard & Poor's on Thursday
said it cut the Russian Federation's long-term foreign currency
sovereign and senior unsecured credit ratings to single-B-minus
The U.S. rating agency also cut Russia's short-term foreign
currency rating to single-C from single-B. S&P said it does not
rate Russia's rouble-denominated debt.
The outlook on Russia's long-term rating is now negative,
the agency said.