Moody's reviews Naftogaz

Moody's Investors Service said it placed the B1 foreign-currency corporate family and debt ratings of NJSC Naftogaz of Ukraine on review for downgrade.

The action follows the review on Ukraine's sovereign rating and also reflects concerns that Naftogaz may be increasing its reliance on direct state support at a time when heightened political tensions and worsening economic conditions may make it more difficult for the state to provide timely support, according to the agency.

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