Moody's may downgrade Kyivstar

Moody's Investors Service said it put the ratings of Kyivstar GSM JSC, including the Ba3 corporate family rating, on review for possible downgrade following the public disclosure of the injunction issued by the Kyiv City Commercial Court prohibiting the company from making any of its financial or other reports and information relating to the financial or business activities available to any third parties. The injunction was made on the application of Storm, the Ukrainian subsidiary of Altimo (Alfa Group), one of the two principal shareholders of the company. Kyivstar is contesting the actions, however the outcome and its timing remain uncertain.

The agency said it is assessing the company's position in light of uncertainty following the injunction and potential implications of the inadequate presentation of the information to market participants.

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