Moody’s might lower Russian governments, GRIs

Moody's Investors Service said it placed the ratings of eight Russian regional and local governments and two government-related issuers (GRIs) on review for downgrade.

These actions follow the potential weakening of Russia's credit profile as captured by Moody's March 4 placement of Russia's Ba1 government bond rating on review for downgrade.

The following were placed under review:

• City of Moscow: Ba1/Aa1.ru issuer rating;

• City of St. Petersburg: Ba1/Aa1.ru issuer rating and senior unsecured rating;

• SUE Vodokanal of St. Petersburg: Ba2/Aa2.ru issuer rating;

• Republic of Bashkortostan: Ba2 issuer rating;

• Republic of Tatarstan: Ba2 issuer rating of Ba2;

• Khanty-Mansiysk AO: Ba2/Aa2.ru issuer rating;

• Oblast of Moscow: Ba2/Aa2.ru issuer rating;

• Oblast of Omsk: Ba3/Aa3.ru issuer rating of Ba3; and

• Republic of Mordovia: B2/Baa1.ru issuer rating and senior unsecured rating.

Concurrently, Moody's affirmed the ratings with negative outlooks of Oblast of Samara, Chuvashia Republic, Krasnoyarsk Krai, Krasnodar Krai, Republic of Komi, Oblast of Nizhniy Novgorod, City of Krasnodar, City of Volgograd, City of Omsk, Oblast of Belgorod and Oblast of Vologda. Moody's will withdraw the rating of Oblast of Vologda due to insufficient information.

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