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Moody's to withdraw national scale ratings in Russia — rating agency

March 09, 20:57 UTC+3
This decision was taken in light of legislative changes and other potential restrictions applicable to the business of providing NSRs in Russia
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© EPA/ANDREW GOMBERT

MOSCOW, March 9. /TASS/. Moody’s Investors Service made a decision to withdraw national scale ratings (NSR) in Russia, the international rating agency said on Wednesday.

"This decision was taken in light of legislative changes and other potential restrictions applicable to the business of providing NSRs in Russia," Moody’s said.

The rating agency plans to close Moody’s Interfax Rating Agency, its joint venture in Russia. Its operations will stop after withdrawal of Russian national scale ratings.

"Moody's remains committed to retaining its strong local presence in Russia and will continue to provide Global Scale Ratings to customers in Russia and in other countries in the region," the rating agency said.

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