RIA Novosti reported that S&P's has placed the ratings of Russian diamond miner Alrosa and rail monopoly Russian Railways on the CreditWatch list with a negative outlook.

S&P's said the move follows a decision by Alrosa and RZD to buy a 45% stake each in Russia's troubled investment bank KIT Finance.

KIT Finance, the biggest player in Russia's domestic debt market, said in September it was in talks with a strategic investor to try and overcome liquidity difficulties, which emerged following sharp declines in the stock market and the global credit crunch.