In addition, Moody's noted that most freight rail transportation companies' revenues, operating and capital expenses are mainly in roubles, while their debt is either in roubles or hedged against rouble depreciation.
The effects on the credit profiles of Moody's rated Russian corporates would be positive to neutral under the scenario of a sustained 10% drop in the rouble to around RUB 36.5 per US dollar from RUB 33.2 at the start of 2014, Moody's Investors Service said in a special comment on Wednesday.
Rouble appreciation bodes well for rouble-denominated bonds.
In a comparison with other CEEMEA currencies, the rouble has, together with the Turkish lira, been one of the region's most stable currencies in 2010, showing extraordinary stability relative to other currencies.
Although Russia's central bank was sticking to its rate of 7.86 roubles to the dollar - set before official trading was frozen on Tuesday - exchange booths were offering about 10 roubles to the dollar.
Some currency dealers even had "No Roubles" signs in the window and one cashier, her voice muffled behind bullet- proof glass, said: "People were afraid before - but not any more."
Asked about the request from Belarus for the new loan, Pankin told reporters in a briefing: oThey had the figure of 100 billion (roubles
) in the letteruwe are not considering it.o