Russian companies, facing $115 billion of debt coming due overthe next 12 months, will have the funds even as bond markets shutbecause of the Ukraine crisis, according to Moody's Investors Service andFitch Ratings.

Firms will have about $100 billion in cash and earnings at theirdisposal during the next 18 months, Moody's said in an analysis of47 businesses April 11. Almost all 55 companies examined by Fitchare “well placed” to withstand a closed refinancing market for therest of 2014, it said in a note on April 16. Banks have more than$20 billion in foreign currency to lend as the tensions promptedcustomers to convert their ruble savings, ZAO Raiffeisenbanksaid.

“The amount of cash on balances of Russian companies, committedcredit lines from banks, and the operating cash flows they will getis sufficient for the companies to comfortably service theirliabilities,” Denis Perevezentsev, an analyst at Moody's in Moscow,said by phone on April 17.