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Russian banks with Cyprus debt at credit rating risk

14.03.13 @ 08:49

  1. By EUOBSERVER

Credit rating agency Moody's on Wednesday said Russian bank operations in Cyprus could incur credit losses. Russian loans to Cyprus-based companies are at the greatest risk. "We estimate that these loans totalled around $30-40 billion at year-end 2012, or around 15%-20% of Russian banks' capital base," says Moody's.

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