08/13/1998 14:48:36 S&P SAYS CONCERNED ABOUT RUSSIA, REVIEWING B-PLUS FOREIGN CURRENCY DEBT RATING

NEW YORK, Aug 13 (Reuters) - U.S. credit rating agency

Standard & Poor's is concerned about Russia's financial

situation and is currently reviewing the country's single-B-plus

foreign currency debt rating, an S&P rating analyst told Reuters

on Thursday.

"We are concerned about the Russian government's ability to

stabilize the economy and its fiscal accounts in particular,

which has caused a deterioration in market confidence," said

Alexei Remizov, S&P sovereign analyst.

He declined to comment about the timing of any potential

rating change.