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    INTERNATIONAL RATING AGENCY STANDARD&POOR'S UPS MOSCOW LONG-TERM CREDIT RATING TO BB+

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    MOSCOW, FEBRUARY 2. /RIA NOVOSTI / -- The international rating agency Standard&Poor's has increased Moscow's long-term credit rating on foreign currency obligations and its ratings on priority unsecured debt to BB+. The rating change forecast is "stable", says the S&P in a press release.

    The upping of ratings is due to the general improvement of the economic and financial status of the Russian Federation, the growth of the economic and revenue budget of Moscow, the best in comparison with the 2003 budget financial indicators, and the moderate, though increasing, debt, says the press release.

    In the opinion of S&P analysts, Moscow's rating level is also kept up by a higher level of its indicators in comparison with the national average and the quality of financial control is also improving.

    The stability forecast reflects S&P expectations regarding Moscow's strong taxing base cable of meeting the growing requirements in financing the infrastructure and alleviating the negative effects of introducing the new system of levelling out budget sufficiency in the country, says Standard&Poor's credit analyst Yelena Okorochenko in the press release.

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