Moody’s downgrades Naftogaz ratings

Moody’s Investors Service announced on Friday it downgraded the Ba3 foreign currency corporate family rating (CFR) and Probability of Default rating of Naftogaz of Ukraine to B1 and concurrently assigned a Developing outlook. This rating action concludes Moody’s review to downgrade Naftogaz ratings. In line with the CFR, Moody’s also changed the rating of USD 500 million senior unsecured Loan Participation notes of Naftogaz from Ba3 to B1; the outlook is developing.