Source Pravda.Ru

The S&P may revise Russia's rating because of the Yukos case

The international rating agency, Standard & Poor's (S&P), may revise the rating of Russia or its forecast in case of a considerable outflow of the capital and the deterioration of the economic situation because of the YUKOS oil company case.

However, the S&P makes a reservation: at present such a scenario is hardly probable.

The arrest and resignation of Mikhail Khodorkovsky (the YUKOS ex-chief), the freezing of the company's shares and the consequent downfall of the Russian shares market themselves do not negatively influence the rating of Russia, says the report of the Standard & Poor's, which RIA Novosti received on Thursday.

According to the report, the Russian economy is protected from the shocks of the type of Khodorkovsky's arrest because of the considerable reserves of the liquidity and the flexibility of the tax and budgetary system in a short-term prospect.

"However, in a long-term prospect, the solvency of Russia will depend on the country's readiness to adopt such a legislation and to follow such a policy that would create conditions for the development of a strong and diversified private sector, says the report.