Moody's puts Naftogaz on review for possible downgrade

Moody’s Investors Service said yesterday that it put the foreign currency family and debt ratings on Naftogaz of Ukraine, currently at B1, on review for possible downgrade. Moody’s said the move was related to the placement of Ukraine’s sovereign rating on review for possible downgrade earlier this month. The ratings agency also cited concerns about increasing reliance on state support, increased political tension, and worsening economic conditions.