Moody's raised ratings of a range of state companies after changing of methodology

/REUTERS, Moscow, May 25, 06/ - International rating agency Moody's Investors Service raised ratings of a range of state companies of Russia, Ukraine and Kazakhstan in connection with methodology changing. According to new system of determination of sovereign ceiling of currency ratings, Moody's admits the possibility of events development of this sort, under which default of the government on foreign debt will not entail automatic moratorium for servicing of currency debt of the companies-borrowers of this country. Rating of Russia from Moody's is at the rate of "Baa2", Ukraine - "В1", Kazakhstan - "Ваа3". At that, due to new methodology, the ceiling of currency ratings of the issuers of these countries is raised correspondingly up to "А2", "Ва3"and "Ваа1". Ratings of the following companies controlled by state suffered changes after revision of methdology: Russia: - Transneft - rating of the issuer in currency has been raised up to"А2" from "Baa2", forecast remains stable; - Gasprom - rating of the issuer in currency has been raised up to "Ваа1" from "Baa2", forecast remains stable; - RZHD JSC - rating of the issuer in currency has been raised up to "А3" from "Baa2", forecast remains stable; - Sovkomflot - rating of the issuer in currency has been raised up to о "Ваа1" from "Baa2", forecast remains stable;. Kazakhstan: - Food corporation - rating of the issuer in currency has been raised up to "Baa2" from "Baa3", forecast has been changed on stable with possible increasing; - KazTransGas (Intergas-Central Asia) - rating of the issuer in currency and corporate currency rating have been raised up to "Baa2" from "Baa3", forecast has been changed on stable with possible increasing, - KazTransOil - corporation currency rating has been raised up to "Baa2" from "Baa3", forecast has been changed on stable with possible increasing, - Electricity supply networking company KEGOC - rating of the issue in currency has been raised up to "Baa2" from "Baa3", forecast has been changed on stable with possible increasing; - Kazakhstan Temir Zholy (Railways of Kazakshtan) - rating of the issue in currency has been raised up to "Baa1" from "Baa3", forecast as before assumes possible increasing, and however, it is restrained by country's ceiling. Ukraine: - Neftegas of Ukraine - corporate currency rating has been raised up to "Ba3" from "B1", forecast remained stable, and rating rising as before is restrained by country's ceiling. [2006-05-25]