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Fitch upgrades city of Moscow to BBB+

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MOSCOW, July 31 (RIA Novosti) - Fitch Ratings upgraded the City of Moscow's long-term foreign and local currency ratings to BBB+ from BBB with a stable outlook, the international rating agency said Monday.

"The rating upgrades reflect continued growth in Moscow's strong and dynamic local economy, supported by further improvements in Russia's economy, large current surpluses and a high capacity for debt financing," Fitch said.

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