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Sistema ends contractual relationship with Moody's

15th Nov 2016 15:56

RNS Number : 2564P
Sistema PJSFC
15 November 2016
 

 

 

Sistema ends its contractual relationship with Moody's

 

Moscow, 15 November 2016 - Sistema PJSFC (LSE: SSA, MOEX: AFKS) ("Sistema" or "the Corporation") a public diversified holding company, announces the termination of its contractual relationship with Moody's rating agency. Sistema has taken this decision on the basis that maintaining two international credit ratings will be sufficient for its creditors and bond holders. Today, Moody's has withdrawn all of Sistema's ratings.

 

Any ratings assigned by Moody's to Sistema Group companies will from now on be unsolicited and will be based exclusively on public information.

Sistema continues cooperating with Standard & Poor's (Sistema's rating at "BB", Outlook "Stable"), and Fitch Ratings (Sistema's rating at "BB-", Outlook "Stable"), and is also starting to work more actively with Russian rating agencies.

***

For further information, please visit www.sistema.ru or contact:

 

IR department

Yury Krebs

Phone: +7 (495) 730 66 00

y.krebs@sistema.ru

 

Press service

Sergey Kopytov

Phone: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Its revenue in 2015 reached RUB 708.6bn; its total assets equalled RUB 1.3tn as of 31 December 2015. Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Stock Exchange. Website: www.sistema.ru.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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