31 Mar 2022 13:12

Moody's withdraws Russia, regional ratings

MOSCOW. March 31 (Interfax) - Moody's Investors Service has withdrawn all ratings on the Government of Russia and its rated Russian sub-sovereign entities, the agency said in a press release.

Moody's withdrew the ratings for its own business reasons.

The European Union has banned EU credit rating agencies from assigning credit ratings to Russia and Russian companies, as well the provision of rating services to Russian clients.

Moody's withdrew the sovereign ratings and sub-sovereign ratings assigned to the cities of Moscow and St. Petersburg, Krasnodar, Omsk and Volgograd, as well as the Moscow Region, Bashkortostan, Tatarstan, Chuvashia, Komi, Khanty-Mansiysk Autonomous District, Krasnoyarsk and Krasnodar territories, and Samara, Omsk and Nizhny Novgorod Regions.

It also withdrew ratings assigned to the water utility FSUP Vodokanal St. Petersburg water utility and highway operator OJSC Western High-Speed Diameter.

The ratings assigned to Russia and all aforementioned issuers was 'Ca' with negative outlook at the time the ratings were withdrawn.

Moody's said in March that it was suspending commercial operations in Russia.