Moody's Upgrades Tatneft's Rating

13 February 2019

Moody's Investors Service upgraded Tatneft rating to Baa2 with stable outlook

Today Moody's Investors Service (Moody's) upgraded long-term issuer rating of PJSC Tatneft to Baa2 and changed the outlook on the rating to stable. The decision by Moody's follows its upgrade of the Russian Federation sovereign rating to Baa3 and of the Republic of Tatarstan credit rating to Ba1.

One of the key factors considered by Moody's upon making the decision to upgrade the rating of Tatneft was the Company's credit strength supported by vast reserve base, sustainable production levels and strong profitability of operations, as well as robust financial metrics, cash generation and liquidity, underpinned by low level of debt.

This press-release contains inside information.

Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release 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. PJSC 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.