Moody’s may reduce ratings for Bashneft

The international rating agency Moody’s has placed the ratings of AFK Sistema and Bashneft on Rating Watch Negative. It is said in a statement of the agency.

“The placing of ratings on review for possible downgrade shows the current uncertainty. The current involvement of the Investigative Committee of the Russian Federation can influence the future of the both companies,” is said in a statement.

The agency can also reduce the ratings of AFK Sistema if the investigation has significant impact on the operating figures of the company and its financial terms, or if any significant deterioration of the current position of the company and other credit profiles of its affiliated companies.

The rating of “Bashneft” can be reduced because of the same reasons due to the uncertainty, regarding the future composition of shareholders and the structure of the corporation.

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