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Articles by Frank Gill
Why S&P Lowered Russia's Rating
15 December 08
By Frank Gill
Sovereign credit analysts endeavor to "rate through the cycle." This means taking a long-term view on the creditworthiness of a national economy, regardless of whether total output is growing above or below its potential, or of any temporary decrease or increase in the borrowing needs of a government or the broader economy. This approach works well during ordinary times, but it is not entirely sufficient during extraordinary ones.
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