Moscow, March 18, 2016 -- Moody's Interfax Rating Agency, ("Moody's Interfax")
has today withdrawn its Russia national scale ratings. Please see
the end of this press release for the full List of Affected Credit Ratings,
which identifies each affected issuer.
Please see ratings tab on the issuer/entity page on moodys.com
for information on Global Scale Rating.
RATINGS RATIONALE
Moody's has withdrawn the ratings for its own business reasons.
Please refer to the Moody's Investors Service Policy for Withdrawal of
Credit Ratings, available on its website, www.moodys.com.
The publication of this rating action deviates from the previously scheduled
release date in the sovereign release calendar published on www.moodys.com.
The reason for the deviation is a withdrawal of the rating for business
reason.
Moody's Interfax Credit Rating Agency's National Scale Credit Ratings
(NSRs) are intended as relative measures of creditworthiness among debt
issues and issuers within a country, enabling market participants
to better differentiate relative risks. NSRs differ from Moody's
global scale credit ratings in that they are not globally comparable with
the full universe of Moody's rated entities, but only with NSRs
for other rated debt issues and issuers within the same country.
NSRs are designated by a ".nn" country modifier signifying
the relevant country, as in ".ru" for Russia.
Some National Scale Ratings that are subject to this rating announcement
are currently under review. Associated reviews on the Moody's
global rating scale are unaffected and will be concluded in due course
in accordance with Moody's Rating Symbols and Definitions.
For further information on Moody's approach to national scale credit ratings,
please refer to Moody's Credit rating Methodology published in June 2014
entitled "Mapping Moody's National Scale Ratings to Global Scale
Ratings".
ABOUT MOODY'S AND MOODY'S INTERFAX
Moody's Interfax Credit Rating Agency (MIRA) specializes in credit risk
analysis in Russia. MIRA is a joint-venture between Moody's
Investors Service, a leading provider of credit ratings, research
and analysis covering debt instruments and securities in the global capital
markets, and the Interfax Information Services Group. Moody's
Investors Service is a subsidiary of Moody's Corporation (NYSE:
MCO).
RATINGS AFFECTED
..Issuer: Belgorod, Oblast of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn, previously rated A2.ru
..Issuer: Chuvashia, Republic of
....NSR LT Issuer Rating, Withdrawn,
previously rated Aa3.ru
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn, previously rated Aa3.ru
..Issuer: Khanty-Mansiysk AO
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa2.ru, Ratings under Review for Downgrade
..Issuer: Komi, Republic of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
..Issuer: Krasnodar, City of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
..Issuer: Krasnodar, Krai of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn, previously rated A2.ru
..Issuer: Krasnoyarsk, Krai of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
..Issuer: Mordovia, Republic of
....NSR LT Issuer Rating, Withdrawn.
Previously rated Baa1.ru, Ratings under Review for Downgrade
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn. Previously rated Baa1.ru, Ratings under
Review for Downgrade
..Issuer: Moscow, City of
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa1.ru, Ratings under Review for Downgrade
..Issuer: Moscow, Oblast of
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa2.ru, Ratings under Review for Downgrade
..Issuer: Nizhniy Novgorod, Oblast of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
..Issuer: Omsk, City of
....NSR LT Issuer Rating, Withdrawn,
previously rated A2.ru
..Issuer: Omsk, Oblast of
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa3.ru, Ratings under Review for Downgrade
..Issuer: Samara, Oblast of
....NSR LT Issuer Rating, Withdrawn,
previously rated Aa3.ru
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn, previously rated Aa3.ru
..Issuer: St. Petersburg, City of
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa1.ru, Ratings under Review for Downgrade
....NSR Senior Unsecured Regular Bond/Debenture,
Withdrawn. Previously rated Aa1.ru, Ratings under
Review for Downgrade
..Issuer: Sue Vodokanal Of St. Petersburg
....NSR LT Issuer Rating, Withdrawn.
Previously rated Aa2.ru, Ratings under Review for Downgrade
..Issuer: Volgograd, City Of
....NSR LT Issuer Rating, Withdrawn,
previously rated Baa1.ru
REGULATORY DISCLOSURES
For any affected securities or rated entities receiving direct credit
support from the primary entity(ies) of this credit rating action,
and whose ratings may change as a result of this credit rating action,
the associated regulatory disclosures will be those of the guarantor entity.
Exceptions to this approach exist for the following disclosures,
if applicable to jurisdiction: Ancillary Services, Disclosure
to rated entity, Disclosure from rated entity.
Moody's considers a rated entity or its agent(s) to be participating
when it maintains an overall relationship with Moody's. On
this basis Oblast of Belgorod or their agents are considered to be participating
entities. These rated entities or their agents generally provide
Moody's with information for their ratings process.
The person who approved City of Moscow, Oblast of Moscow,
City of St. Petersburg, SUE Vodokanal of St. Petersburg
credit ratings is David Rubinoff, MD-Sub Sovereigns,
Sub-Sovereign Group, 44 20 7772 5456, 44 20 7772 5454.
The person who approved Oblast of Belgorod, Republic of Chuvashia,
Khanty-Mansiysk AO, Republic of Komi, City of Krasnodar,
Krai of Krasnodar, Krai of Krasnoyarsk, Republic of Mordovia,
Oblast Nizhniy Novgorod, City of Omsk, Oblast of Omsk,
Oblast of Samara, City of Volgograd credit ratings is Mauro Crisafulli,
Associate Managing Director, Sub-Sovereign Group, 44
20 7772 5456, 44 20 7772 5454.
Regulatory disclosures contained in this press release apply to the credit
rating and, if applicable, the related rating outlook or rating
review.
Please see www.moodys.com for any updates on changes to
the lead rating analyst and to the Moody's legal entity that has issued
the rating.
Please see the ratings tab on the issuer/entity page on www.moodys.com
for additional regulatory disclosures for each credit rating.
Mauro Crisafulli
Associate Managing Director
Sub-Sovereign Group
Moody's Italia S.r.l
Corso di Porta Romana 68
Milan 20122
Italy
Telephone:+39-02-9148-1100
David Rubinoff
MD - Sub-Sovereigns
Sub-Sovereign Group
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
Releasing Office:
Moody's Interfax Rating Agency
7th floor, Four Winds Plaza
21 1st Tverskaya-Yamskaya St.
Moscow 125047
Russia
Telephone: +7 495 228 6060
Facsimile: +7 495 228 6091
Moody's Interfax Rating Agency withdraws National Scale Ratings for Russian Sub Sovereigns