London, 17 October 2016 -- Moody's Investors Service (Moody's) has today affirmed the Ba1 corporate family rating (CFR) and the Ba1-PD probability of default rating (PDR) of Russian integrated oil company Bashneft PJSOC (Bashneft). Concurrently, Moody's upgraded its baseline credit assessment (BCA) to ba1 from ba2. The rating action follows the sale of a 50.08% stake in the company owned by the Government of Russia (Ba1 negative) to PJSC Oil Company Rosneft (Rosneft, Ba1 negative). The outlook on the ratings remains negative.

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