Moody's reviews Sovcomflot

Moody's Investors Service said it placed on review for downgrade the Baa1 issuer rating of Sovcomflot and affirmed its Aaa.ru long-term national scale rating.

Moody's said the action was prompted by the agency's decision to review its assessment of the government support assumptions factored into the rating.

"Today's rating action reflects Moody's decision to review the government support assumptions for the company," Marco Vetulli, a Moody's vice president, said in a statement.

"Although Moody's continues to believe that SFC enjoys a high degree of support from the Russian government, and despite its strategic importance to Russia, the probability of support by the government might not be as close to certainty as for some other GRIs."

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