International markets key to growth

摘要

Russia's top corporates will need to access the international markets once the economy starts to pick up to support a sustained recovery, according to Moody's. While these companies can use the domestic capital markets to fund a US$70bn wall of foreign currency debt that comes due up to the end of 2017, they will need to tap into deeper pools of liquidity as Russia's economy begins to expand again. The top 20 Moody's rated Russian non-financial corporates have to repay around US$40bn-equivalent of debt, including bonds and loans, this year with about US$30bn denominated in a currency other than the rouble. These firms have US$60bn to repay in 2016-17, of which US$40bn is in foreign currency.