Moody's may cut Sitronics

Moody's Investors Service said it placed the corporate family and probability of default ratings of Sitronics JSC on review for possible downgrade.

The ratings reflect Sitronics' consistently weak performance, which translated into a deteriorating liquidity profile with little likelihood of improvement in the short- to medium-term, Moody's said.

There is further uncertainty regarding Sitronics' future performance as a result of news that Sistema plans to transfer its entire holding of defense industry assets into a joint venture with the Bank of Moscow, the agency said.

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