LONDON, June 9 /PRNewswire/ -- Standard & Poor's today lowered its ratings
on the Russian entities listed below to single-'B'-plus from double-'B'-minus.
The ratings are removed from CreditWatch where they were placed with negative
implications on May 27, 1998. The rating actions are triggered by the
downgrade of the foreign currency rating of the Russian Federation to
single-'B'-plus from double-'B'-minus. The outlook on the Russian Federation
rating and on the following corporate credit ratings is stable.
ISSUER CREDIT RATINGS TO FROM
OAO Lukoil/Moscow City
Telephone Network (JSC)
Corp credit rtg
Foreign currency B+/Stable/-- BB-/Watch Neg/--
Almazy Rossii -
Sakha Co. Ltd./
Corp credit rtg B+/Stable/-- BB-/Watch Neg/--
REVISED RATINGS TO FROM
LukInter Finance B.V.
Sr unsecd debt
(Gtd: OAO Lukoil) B+ BB-/Watch Neg
Moscow City Telephone
Sr unsecd debt B+ BB-/Watch Neg
Bank loan rtg B+ BB-/Watch Neg
Mosenergo Finance B.V.
Sr unsecd debt
(Gtd: Mosenergo (AO)) B+ BB-/Watch Neg
In addition, as a result of the action taken on the sovereign rating, the
outlook on Vimpel-Communications, Open Joint Stock Company's single-'B'-plus
corporate credit ratings has been revised to stable from positive, Standard &
Poor's said. -- CreditWire
SOURCE Standard & Poor's CreditWire
/CONTACT: Juan Jose Garcia Seijo, London, 44-171-826-3642, or Helena
Hessel, New York, 212-208-1989, both of S&P/
/Web site: http://www.ratings.standardpoor.com/
-0- (PRN) Jun/09/98 09:10
EOS (PRN) Jun/09/98 09:10 86
-0- (PRN) Jun/09/ 98 9:25
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