March 09, 2011 |
|Moscow, March 09, 2011 -- Moody's Investors Service today announced that it|
has withdrawn all ratings of Astana Finance as the company has been
undergoing debt restructuring process since its default in May 2009. At the
time of withdrawal, Astana Finance's ratings were as follows:
long-term local and foreign currency issuer ratings of C, foreign currency
senior unsecured debt rating of C, and provisional foreign currency rating
of (P)C assigned to the USD2 billion Medium-Term Note
(MTN) Programme of Astana Finance and the USD1.5 billion MTN Programme of
Astana Finance B.V. (Astana Finance's wholly-owned subsidiary), each with a
stable outlook. Please refer to Moody's Withdrawal Policy on www.moodys.com.
Moody's rated Astana Finance's Eurobonds in the amount of USD175 million and
as of the date of this Press Release Astana Finance remains in default on
these obligations. Moody's also rated the two global MTN programmes.
Nonetheless, no rated drawdowns under these programmes remained outstanding.
Moody's notes that it will no longer maintain rating coverage or publish
research on these Eurobonds, MTNs and on issuer rating of Astana Finance.
Moody's most recent rating action on Astana Finance was taken on 12 November
2009 when the rating agency downgraded the company's long-term issuer and
debt ratings to C from Ca.
|Full company name||Joint Stock Company "Astana-finance"|
|Country of risk||Kazakhstan|