Russian companies have USD100bn at their disposal

(MENAFN) According to Moody's Investors Service and Fitch Ratings, Russian companies which are facing a debt of USD115 billion will still have funds even when bond markets close due to the Ukrainian crisis, Times of Oman reported. According to an analysis by Moody's, firms will have about USD100 billion in cash and earnings at their disposal in the next year and a half. Fitch said in a note that all the 55 companies examined are 'well placed' to withstand a closed refinancing market for the rest of this year, adding that banks have more than USD20 billion in foreign currency to lend, as the tensions have driven customers to convert their roble savings. "The amount of cash on balances of Russian companies, committed credit lines from banks and the operating cash flows they will get are sufficient for the companies to comfortably service their liabilities," an analyst at Moody's in Moscow said.