| Moody's Withdraws Naftohaz Ukrainy's Ratings |
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13/03/2010 10:12 (700 Day 16:13 minutes ago) | ||||
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The FINANCIAL -- Moody's Investors Service, an international credit rating agency, has withdrawn the ratings of the Naftohaz Ukrainy national joint-stock company.
The rating agency announced this in a statement, a text of which Ukrainian News obtained.
Specifically, the rating agency withdrew Naftohaz Ukrainy's Caa2 corporate family rating and its Ca/LD probability of default rating.
The ratings were withdrawn for business reasons, and in accordance with Moody's Withdrawal Policy.
According to the rating agency's ratings definitions, obligations rated C have a high probability of default.
As Ukrainian News earlier reported, Naftohaz Ukrainy earned a net profit of UAH 2.3 billion in 2009, based on Ukrainian accounting standards.
The company's revenues from sale of goods, works, and services rose from UAH 61.6 billion in 2008 to UAH 87.4 billion in 2009.
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