Moody's reviews Sistema

Moody's Investors Service said it placed the Ba3 corporate family and senior unsecured ratings of Sistema JSFC and B1 corporate family rating of its 71.1% -owned subsidiary Sistema-Hals on review for downgrade.

The action reflects an assessment that Sistema Hals' business profile is weakening in the face of challenging economic conditions aggravated by current conditions in the Russian real estate sector, according to the agency.

The review also reflects concern over the weakening broader operating environment, the agency added.

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