London, 20 February 2015 -- Moody's Investors Service has today downgraded RussNeft's corporate family rating (CFR) to B2 from Ba3 and probability of default rating (PDR) to B2-PD from Ba3-PD. Today's rating action reflects Moody's view that RussNeft's financial and liquidity profile has materially deteriorated compared with 2012, and that event risk associated with opportunistic shareholder policies remains high.

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