MOSCOW, January 20th, 2004 (RIA Novosti correspondent) - The international rating agency, Moody's Investors Service, has placed the rating of the Yukos oil company (with the main credit rating of Ba1 and the rating of naked debentures - Ba2) on the list of companies whose rating might be reconsidered, says the agency's press release circulated on Tuesday.
According to the press release, this move was prompted by the increasing pressure on the company, with possible penal sanctions from the government. All these events can eventually have a negative effect on the company's prospects.
Despite the fact that the company has stable economic indices, the agency is concerned about Yukos's large tax debt for 2000, the charges levelled against the management and shareholders of the company, and the unclear nuances of cancelling the agreement with Sibneft.
According to the press release, the agency will consider different scenarios but the worst of them can badly affect the company's solvency and rating.
