Moody's: Sinek view stable

Moody's Investors Service said it changed the outlook for OAO Svyazinvestneftekhim (Sinek) to stable from negative. The company has Ba1 corporate family and probability-of-default ratings, and the $250 million loan participation notes issued by Edel Capital SA are rated Ba1.

Sinek is a holding company for the Republic of Tatarstan's key assets. The outlook change follows the recent change in Tatarstan's outlook to stable from negative.

The rating and outlook remain dependent on those of Tatarstan and are very sensitive to changes in support from the republic, the agency said. Moody's expectation is that Sinek will maintain its role as Tatarstan's asset manager that attracts funds to implement the republic's strategy.

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