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Moody’s Revokes Russia’s Rating Following Fitch

Moody’s

Moody’s Investors Service (“Moody’s”) has today withdrawn all ratings on the Government of Russia and our rated Russian sub-sovereign entities. In a related action, we have also withdrawn the local and foreign-currency country ceilings for Russia.

Please click on this link https://www.moodys.com/viewresearchdoc.aspx?docid=PBC_ARFTL464444 for the List of Affected Credit Ratings. This list is an integral part of this Press Release and identifies each affected issuer.

The rating announcement is being released outside of the sovereign calendar dates for UK sovereign ratings, based on the event of Moody’s decision to withdraw the ratings for its own business reasons.

Fitch

In order to comply with European Union sanctions, Fitch Ratings intends to withdraw its ratings on all relevant Russian entities and their subsidiaries. The ratings will be withdrawn in advance of the 15 April 2022 deadline imposed by the EU.

On 7 March 2022, Fitch Group announced the suspension of its commercial operations in Russia. On 15 March 2022, the EU announced a ban on providing credit ratings to legal persons, entities, or bodies established in Russia.

Iuliia Tore