Moody’s upgrades Acron

Moody's Investors Service said it upgraded JSC Acron’s corporate family rating to Ba3 from B1, probability of default rating to Ba3-PD from B1-PD and senior unsecured rating to Ba3 from B1.

The outlook on all the ratings is stable.

The upgrades are driven by an improvement in Acron's business model as well as its strengthened financial profile, which, in Moody's view, will remain solid, underpinned by the company's low cost position, the completion of various investment projects and shareholders' commitment to a balanced dividend policy.

At the same time, Moody's Interfax Rating Agency upgraded the national scale corporate family rating to Aa3.ru from A1.ru.

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