ADVISORY/Moody's Upgrade of Russian Bonds Lifts Over 50 Percent of Emerging Market Universe into Investment Grade Territory, Says Expert Who Predicts High Levels of Investment Through Year End.Business Editors ADVISORY... --(BUSINESS WIRE) Payden & Rygel's Kristin Ceva Available to Comment Only five years after Russia's default on domestic debt, the country's bonds earned a two-notch upgrade to an investment-grade rating from Moody's yesterday (from Ba2 to Baa3). While this took the market by surprise, it reflects the remarkable transformation the country has undergone in the past few years, gaining political stability and managing a turnaround in debt and fiscal management, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Kristin Ceva, senior vice president and emerging market bond analyst with Payden & Rygel, one of the nation's largest independent money managers. "The upgrade puts Russian bonds within the reach of a large new group of institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and will stimulate high levels of investing through year-end," predicts Ceva. Moody's action also has repercussions repercussions npl → répercussions fpl repercussions npl → Auswirkungen pl on the emerging-market asset class as Russia makes up a large percentage of emerging-market indices, says the bond analyst. "With Russia's upgrade, over 50 percent of the emerging-market universe is now in investment-grade territory," she points out. Ceva, PhD, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , is a portfolio strategist in the Payden & Rygel Global Credit Group who is responsible for emerging market investment analysis, including sovereign macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. and political risk assessment, country allocation and corporate credit. She is especially well versed Versed® Midazolam Pharmacology A preoperative sedative in Russian economic and political trends. Ceva can be reached at (213) 625-1900 today, October 9, and Friday, October 10. |
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