Moscow, May 20, 2013 -- Moody's Investors Service has today said that it views as credit positive for Alrosa OJSC (Ba3 positive) the announcement by its president on Thursday 16 May that the company is negotiating a binding sales-purchase agreement with respect to its disposal of its 100% interest in ZAO Geotransgas, which is developing the Beregovoe gas field (105 billion cubic metres (bcm) of gas reserves), and Urengoy Gas Company, which is developing the Yamsovey gas deposit (82 bcm of gas reserves). Moody's believes that the transaction will allow Alrosa to free up capital, which will help the company to focus on its core activities and reduce its debt levels. Depending on the final terms of the transaction and the extent to which Alrosa uses the sale proceeds for deleveraging, this could potentially lead Moody's to upgrade the company's Ba3 corporate family rating (CFR).

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