Fitch rates Polyus Gold IDR BBB-

Fitch Ratings said it assigned OJSC Polyus Gold a long-term issuer default rating of BBB- and affirmed Polyus Gold International Ltd.’s long-term issuer default rating at BBB-.

The outlooks on both entities are negative as they are constrained by Russia's sovereign outlook.

OJSC Polyus is a 95% subsidiary of Polyus Gold International, and is a Russia-based holding company which directly or indirectly controls all of the group's gold mining companies in Russia. Fitch applied its parent and subsidiary linkage methodology to assign an issuer default rating to OJSC Polyus. Under this methodology, the agency aligned OJSC Polyus’ long-term issuer default rating with that of Polyus Gold International as they essentially have similar credit profiles.

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