Moody’s ups SUEK, bonds to Ba2

Moody's Investors Service said it upgraded SUEK JSC's corporate family rating to Ba2 from Ba3 and probability of default rating to Ba2-PD from Ba3-PD. and changed the outlook to stable from positive.

Concurrently, the agency upgraded senior unsecured ratings of the bonds issued by SUEK Finance, a Russia-domiciled wholly owned subsidiary of SUEK, to Ba2 from Ba3.

SUEK Finance’s outlook was also changed to stable from positive.

"We have upgraded SUEK's ratings based on our expectation that the company will continue to deleverage, pursue balanced financial policies and maintain sufficient liquidity," Moody’s vice president, senior credit officer Artem Frolov said in a news release.

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