...Russian Oil and Gas Dashboard 2H15: Production May Dip in 2016 Russia's oil production may dip in 2016, due to US/EU sanctions, constrained access to international finance, and low oil prices. This would reverse the trend of marginally rising production over the past six years. However, the credit profiles of Fitch-rated Russian oil and gas companies should remain robust despite low oil prices, due to progressive taxation and the fall in the rouble. Turkish Corporates Most Exposed to FX Risk Among our rated EMEA corporate portfolio, Turkish corporates are the most exposed among EMEA emerging markets to the risks of a rise in US interest rates and a strengthening dollar, due to their large unhedged FX exposures. Kazakh issuers are the next most exposed, while Russian, Ukrainian and South African companies are mostly better hedged. European Corporate Hybrids Dashboard 1H15: Demand Remains Strong Demand for hybrid instruments remains strong in 2015 with issuance in the first half of the year...
