Moody’s put on review ratings of 45 Russian companies – Interfax

Moody's put on review ratings of 45 Russian companies – Interfax

.

.

Moscow. On 24 December. INTERFAX.RU – International rating agency Moody’s Investors Service on the night from Tuesday to Wednesday put on review for possible downgrade of 45 Russian companies which are not related to the financial sector, and its subsidiaries, the report said Moody’s.

Among the issuers, which affected the decision Moody’s, includes “Bashneft”, “Gazprom Neft”, “LUKOIL”, “NOVATEK”, “Rosneft”, “Russneft”, “Transneft”, JSC “Russian Railways” (RZD), ” Transcontainer “, Globaltrans Investment PLC, Alrosa Finance SA,” Metalloinvest “,” MMK “,” NLMK “, Nord Gold NV, MMC” Norilsk Nickel “,” Severstal “,” Raspadskaya “, SUEK PLC,” Megaphone “” Mobile TeleSystems “,” VimpelCom “,” KAMAZ “,” Power Machines “,” Russian Helicopters “,” Fosagro “,” Uralkali “,” Sibur “and several others.

At the same time the rating agency Moody’s Interfax put on review for possible downgrade the ratings on the national scale 27 issuers in the group, including “Bashneft”, “Russneft” and “Novatek”.

At the same time, it affirmed the national scale rating of “Transneft” on level “Aaa.ru” and noted that similar ratings of “Norilsk Nickel” and Railways (also “Aaa.ru”) have been changed and are not placed on review.

The decision followed a reduction in non-sovereign ceiling rating of Russian issuers on bonds in foreign currency from “A3″ to “Baa2″, ie, a level that corresponds to the sovereign rating of Russia.

The rating action reflects a significant and rapid deterioration of working conditions in Russia and the increased risk of a longer and deeper recession than originally anticipated, says Moody’s. The agency expects to reduce Russia’s GDP by 5.5% in 2015 and 3% in 2016.