Moody's raises Transneft

Moody's Investors Service said it has upgraded the ratings of OAO AK Transneft following an earlier decision by Moody's to upgrade Russia's long-term ratings and foreign-currency country ceiling to Baa2, with a stable outlook.

Ratings affected include long-term local currency issuer rating upgraded to A2 from Baa1 and long-term foreign currency issuer rating upgraded to Baa2 from Baa3.

The outlook is stable.

At the same time, Moody's Interfax Rating Agency said it affirmed Transneft's Aaa.ru national scale rating.

The upgrade therefore solely reflects the impact of the sovereign ratings upgrade, the agency said.

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