Moody's International Agency upgraded Bashneft’s outlook

UFA, 7 December 2015. /Bashinform News Agency, Olesya Seregina/. Today, Moody's International Rating Agency raised the outlook on the corporate ratings and probability of default ratings of Bashneft from negative to stable. At the same time Moody's confirmed these ratings at Ba1 and Ba1-PD, respectively. It is reported by the Bashneft press service with reference to the Moody's announcement.

The rating actions were taken after December 3, 2015 when Moody's upgraded the outlook on Russian government bond rating (Ba1) from negative to stable in view of stabilization of Russia’s external finances and the diminished likelihood of the Russian economy or finances facing a further intense shock in the next 12–18 months.