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Russia says happy to hold US agencies debt-Finmin

Sat Jul 12, 2008 10:24am EDT

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MOSCOW, July 12 (Reuters) - Russia, a holder of about $100 billion in U.S. agencies' debt, including securities of Fannie Mae (FNM.N) and Freddie Mac (FRE.N), said on Saturday it was happy to hold the debt and had no immediate plans to reallocate. "Debt obligations of Fannie Mae and Freddy Mac are de-facto not inferior to U.S. sovereign debt obligations in their credit quality and still have the highest credit rating necessary for the gold and forex reserves investment," the Finance Ministry said in a statement. (Reporting by Gleb Bryanski, editing by Mike Peacock)

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