Emerging economies rebound from crisis.

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Three of the largest emerging economies have had their risk ratings upgraded by credit management services provider Coface. It believes that companies in Brazil and Turkey now constitute a better commercial risk than before the financial crisis, while Russian firms, which became riskier during the crisis, have regained their previous rating.

Turkey's rating is now A4, putting the country in the most favourable risk category (A1 to A4) for the first time. Coface predicts that Turkey's economy will grow by nearly seven per cent in 2010. The country undertook the greatest easing of monetary policy in the world between November 2008 and December 2009 and showed excellent foreign currency liquidity risk management without turning to the IMF, the company said. Brazil was upgraded to A3, its best rating ever. The effects of the financial crisis were limited by the...

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