Moody’s cuts Naftogaz to ‘Caa2’

Moody’s Investors Service lowered the foreign currency corporate family rating and probability of default and debt ratings on Naftogaz of Ukraine from ‘Caa1’ to ‘Caa2,’ according to a statement released on Friday. At the same time, Moody’s placed the ratings on review for possible downgrade. Moody’s said the move reflects concerns about government officials’ statements about renegotiating the company’s USD 500 mln Eurobonds due in September.