Moody's places on review for downgrade ratings of Russian regions

Moody's Investors Service has placed on review for downgrade the ratings of 16 Russian regions and cities and two government-related issuers, Report informs referring to Moody’s website.

This rating action follows the potential weakening of Russia's credit profile as captured by the placement on review for downgrade of the sovereign government bond rating (Baa3), which was triggered by Russia's further military operation in Ukraine.

Specifically, Moody's has placed on review for downgrade the ratings of the cities of Moscow and St. Petersburg, SUE Vodokanal of St. Petersburg, OJSC "Western High-Speed Diameter", Moscow Oblast, Republic of Bashkortostan, Republic of Tatarstan, Autonomous-Okrug (region) of Khanty-Mansiysk, Samara Oblast, Chuvashia Republic, Krasnoyarsk Krai, Krasnodar Krai, Komi Republic, Oblast of Omsk, Oblast of Nizhniy Novgorod, City of Krasnodar, City of Omsk, City of Volgograd.

Many regions' economic activity is concentrated in particular sectors, such as oil and gas, metal production, financial activities or petrochemicals, that could be directly affected by sanctions.