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Sovereign action on Russia 'credit negative' for energy, mining sector - Moody's

Sovereign action on Russia 'credit negative' for energy, mining sector - Moody'sMoody's Investors Service views as credit negative for 14 Russian issuers in the energy and mining sectors the recent placement on review for downgrade of the government of Russia's "Ba1" bond and issuer ratings, Moody's said in a press release on Thursday.

Although the sovereign rating review has no immediate impact on the ratings of these issuers as Moody's had already placed them on review for downgrade on January 22, 2016, their reviews will take account of the sovereign rating review, it said.

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The companies concerned are Gazprom, Gazprom Neft, Rosneft, Rosneft International Holdings Limited, Lukoil, Novatek, Bashneft, Tatneft, Uranium One Inc, Norilsk Nickel, Alrosa, Holding Company Metalloinvest, Nord Gold N.V. and SUEK Plc.
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