Central and Eastern Europe (CEE)
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Investors eye Russian payments as some fail to get through -
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Investors unaware of any formal notice from Russia that it will pay next coupons in roubles
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Investors fear a PR disaster if Ukraine poultry firm is forced into default
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Making coupon payments is only an attempt to save face
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Russia accused of ‘economic gibberish’ over repayment threat as coupon payments said to flow
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Russia and western investors are unlikely to see eye to eye on what constitutes default as coupon date passes
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EU sanctions mean rating agencies can no longer rate Russian borrowers
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Rouble payment clauses will protect against CDS triggers, but they do not apply this week
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At least one investor confident payment will still be made despite lack of communication
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Rating agencies have warned offering rouble payments would mean default
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Sanctions and efforts to keep foreign currency in Russia make servicing loans nearly impossible
