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S&P cuts rating of Rosneft, Gazprom

Companies
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The Standard & Poor's building is seen in New York. Picture: Jessica Rinaldi

Moscow - Standard and Poor's ratings agency cut the credit ratings of state-controlled Russian energy companies Rosneft and Gazprom to BBB- from BBB on Monday, the agency said in a statement on its website.

The downgrade, to a notch above junk rating, came after the agency cut Russia's sovereign rating on Friday, also to BBB-, the lowest investment grade category. - Reuters

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