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Official Still Likes U.S. Debt

The U.S. debt market remains reliable, and the downgrade of the nation's credit rating can be ignored in terms of investment strategy, Deputy Finance Minister Sergei Storchak said in an interview.

"We do not intend to review the volume of investment of reserve funds in U.S. dollars," Storchak said by phone. "I think that in the current situation the U.S. debt market continues to remain reliable. We, as investors, have a right to ignore it."

The downgrade of the U.S. rating to AA+ from AAA by Standard & Poor's is first and foremost a signal to the nation itself, Storchak said.

(Bloomberg)

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