Moody’s lifts views of nine Russian GRIs to stable

Moody’s Investors Service said it changed to stable from negative the outlooks on the ratings of six regional and local governments in Russia and three government-related issuers (GRIs), reflecting the improvement in systemic risk.

Moody’s said it lifted the outlook to stable on Moscow, St. Petersburg, SUE Vodokanal of St. Petersburg, OOO Vodokanal Finance, OJSC Western High-Speed Diameter, Republic of Bashkortostan, Republic of Tatarstan, Autonomous-Okrug of Khanty-Mansiysk and Moscow oblast.

The agency also said it affirmed the ratings of these nine issuers.

St. Petersburg’s issuer rating and senior unsecured rating were affirmed at Ba1; SUE Vodokanal of St. Petersburg’s issuer rating was affirmed at Ba2; Vodokanal Finance’s backed senior unsecured rating was affirmed at Ba2; Western High-Speed Diameter’s backed senior unsecured rating was affirmed at Ba3; Bashkortostan’s issuer rating was affirmed at Ba2; Tatarstan’s issuer rating was affirmed at Ba2; Khanty-Mansiysk’s issuer rating was affirmed at Ba2; and Moscow’s issuer rating was affirmed at Ba2.

These outlook revisions follow the stabilization of Russia’s credit profile as captured by the change of outlook to stable from negative on Russia’s government bond rating, Moody’s said.

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