Moody's downgraded Tatneft to Ba1

23 January 2015

Moody's downgraded OAO Tatneft's credit rating to Ba1 from Baa3 and Moody's Interfax downgraded Tatneft to Aa1.ru from Aaa.ru

Moody's Investors Service has downgraded to Ba1 from Baa3 the rating of Tatneft and converted the company's long-term issuer rating into a corporate family rating (CFR). Concurrently, Moody's has assigned a Ba1-PD probability of default rating (PDR) to Tatneft. The ratings remain on review for further downgrade.

Moody's Interfax Rating Agency has also downgraded Tatneft's rating on the national scale to Aa1.ru from Aaa.ru. The rating remain on review for further downgrade.

Full press-releases relating to Tatneft's ratings are available on Moody's web-site:

https://www.moodys.com/research/Moodys-downgrades-Tatneft-to-Ba1-from-Baa3-following-downgrade-of--PR_316790

https://www.moodys.com/research/Moodys-Interfax-downgrades-Tatneft-to-Aa1ru-from-Aaaru-following-downgrade--PR_316799 

Forward-looking statements: This press-release and materials mentioned in it contain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release or the materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. OAO Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.