Russian Finance Minister says Moody's downgrade had 'political character'

February 20, 2015 11:13 PM

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Russian Finance Minister says Moody's downgrade had 'political character'

MOSCOW (Reuters) - Moody's downgrade of Russia's sovereign rating was based on "factors of a political character," Russia's Finance Minister Anton Siluanov said early on Saturday following news that Moody's had cut the rating to below investment grade.

Siluanov also said that the downgrade was based on "unrealistic" forecasts with "no analogies", as the agency had made pessimistic assumptions that went well beyond forecasts by the IMF, World Bank and international banks.

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