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Economy Minister: Chance of Russia Being Downgraded to Junk 'Pretty High'

Russian Economy Minister Alexei Ulyukayev attends the Gaidar Forum in Moscow, Jan. 14, 2015.

Russian Economy Minister Alexei Ulyukayev said on Wednesday that the likelihood of Russia being downgraded to junk was "pretty high," Interfax news agency reported.

Rating agency S&P said last month it expected to complete a review of Russia, which it already rates at just one notch above junk with a negative outlook, by mid-January.

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