Moody’s downgrades 8 Russian non-financial corporates

Moody’s downgrades 8 Russian non-financial corporates
# 21 January 2015 01:30 (UTC +04:00)

Moody’s downgraded issuer rating of Transneft, Russia’s biggest oil pipeline operator, to Baa3 from Baa2 on Tuesday. Rating remains on review for downgrade.

Moody’s rating agency has also downgraded Gazprom's foreign-currency ratings to Baa3 from Baa2 and local-currency ratings to Baa2 from Baa1 on Tuesday. The ratings are on review for downgrade.

The agency said that the rating action followed the weakening of Russia’s credit profile, as reflected by Moody’s downgrade of the country’s government bond rating on January 16.

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