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MOSCOW, January 22. /TASS/. Moody’s Investors Service upgraded the corporate family rating and the probability of default rating of Russian Sistema Holding to Ba3 from B1 with stable outlook, the international rating agency said on Friday.
"Our decision to upgrade Sistema's ratings follows the positive outcome for the company of a legal case linked to its prior ownership of oil company Bashneft, and also factors in its ability to maintain strong financial metrics despite the loss of Bashneft," Moody's Vice President Julia Pribytkova said.
TASS reported earlier the criminal case against Sistema co-owner Vladimir Evtushenkov was closed because of absence of an event of crime.