London, 14 July 2014 -- Moody's Investors Service has today changed to negative from stable the outlook on Raspadskaya OAO's B2 corporate family rating (CFR) and B2-PD probability of default rating (PDR). Concurrently, Moody's has affirmed these ratings. At the same time, Moody's has affirmed the B2 rating on the senior unsecured debt issued by Raspadskaya Securities Ltd., a limited liability company incorporated in Ireland, as well as its B2-PD PDR (with a loss-given-default (LGD) assessment of LGD4, 50%), respectively.

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