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Russia’s prospects for a higher debt grade after entering the World Trade Organization may not materialize because of the country’s investment climate and institutional weaknesses, rating companies said.

Standard & Poor’s, whose BBB rating has a stable outlook, doesn’t anticipate “any immediate impact from WTO accession,” said Kai Stukenbrock, director of sovereign ratings in Europe, the Middle East and Africa. Russia must tackle “institutional weaknesses” such as the rule of law and corruption to reap the full benefits from WTO entry, according to Dietmar Hornung, a senior credit analyst at Moody’s Investors Service


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