Moody's rates Siberian Coal bonds B1

Moody's Investors Service said it assigned a B1 corporate family rating to Siberian Coal Energy Co. OJSC, a B1 probability of default rating and provisional B1 rating to the proposed issue of the Russian ruble bonds. The agency also assigned an A1.ru national scale rating.

The outlook is positive.

The ratings reflect the company's role as leading global thermal coal producer with a low cost base, vast and relatively diversified reserves, stable domestic demand and growing export sales support and a favorable geographic position, Moody's said.

The agency also noted that the 2009 results indicate the company's resilience to economic downturn with stable leverage throughout the crisis as well as strong management commitment to its further reduction.

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