(Editor's Note: Rating actions directly or indirectly related to the Russia-Ukraine conflict have slowed to a trickle. Unless that changes, this is the last update of this article. Final data is as of July 19, 2022.)
Key Takeaways
- The Russia-Ukraine conflict's impact on ratings spiked at the end of March 2022 but has since been limited; there were only eight rating actions in June compared to 127 in March.
- So far in July, there have been four rating actions related to the Russia-Ukraine conflict, three of which were negative actions on EMEA utilities.
- By sector, banks still lead the tally with 22% of total rating actions.
This article contains a list of the rating actions we've taken globally on corporations and sovereigns in response to these current events (Tables 1-3 and Related Research). So far, there have been 225 financial and nonfinancial corporate, sovereigns, and international public finance public ratings actions in which we cite the Russia-Ukraine conflict, commodity prices, or both as direct or indirect factors driving the decision.
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Financing Conditions And Risk Insights
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Table 1
List Of Rating Actions Related To The Russia-Ukraine Conflict Or Commodity Prices | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Date | Company | Industry | Country of domicile | Region | Rating To | Rating From | ||||||||
25-Feb-22 | Promsvyazbank PJSC | Banks | Russia | EMEA | BB | BB | ||||||||
25-Feb-22 | Russian Federation | Sovereigns | Russia | EMEA | BB+ | BBB- | ||||||||
25-Feb-22 | Republic of Ukraine | Sovereigns | Ukraine | EMEA | B- | B | ||||||||
28-Feb-22 | Alfa-Bank JSC | Banks | Russia | EMEA | BB+ | BBB- | ||||||||
28-Feb-22 | AO Raiffeisenbank | Banks | Russia | EMEA | BB+ | BBB- | ||||||||
28-Feb-22 | Gazprombank JSC | Banks | Russia | EMEA | BB+ | BBB- | ||||||||
28-Feb-22 | UniCredit Bank AO | Banks | Russia | EMEA | BB+ | BBB- | ||||||||
28-Feb-22 | VTB Bank | Banks | Russia | EMEA | BB+ | BBB- | ||||||||
28-Feb-22 | Bank SOYUZ | Banks | Russia | EMEA | BB- | BB- | ||||||||
28-Feb-22 | CentroCredit Bank JSC | Banks | Russia | EMEA | B+ | B+ | ||||||||
28-Feb-22 | Commercial Bank Renaissance Credit LLC | Banks | Russia | EMEA | B+ | B+ | ||||||||
28-Feb-22 | CREDIT BANK OF MOSCOW | Banks | Russia | EMEA | BB | BB | ||||||||
28-Feb-22 | RN Bank JSC | Banks | Russia | EMEA | BB+ | BB+ | ||||||||
28-Feb-22 | Russian Standard Bank JSC | Banks | Russia | EMEA | B | B | ||||||||
28-Feb-22 | Sovcombank PJSC | Banks | Russia | EMEA | BB | BB | ||||||||
28-Feb-22 | Ural Bank for Reconstruction and Development | Banks | Russia | EMEA | B | B | ||||||||
28-Feb-22 | JSC Bank Alliance | Banks | Ukraine | EMEA | CCC | B- | ||||||||
28-Feb-22 | Stanpeak Ltd. LLC | Insurance | Cyprus | EMEA | BB | BB | ||||||||
28-Feb-22 | FG BCS Ltd. | NBFIs | Cyprus | EMEA | B+ | B+ | ||||||||
28-Feb-22 | QIWI PLC | NBFIs | Cyprus | EMEA | BB- | BB- | ||||||||
28-Feb-22 | Renaissance Financial Holdings Ltd. | NBFIs | Cyprus | EMEA | B | B | ||||||||
28-Feb-22 | Ronin Europe Ltd. | NBFIs | Cyprus | EMEA | BB- | BB- | ||||||||
28-Feb-22 | Credit Union Payment Center | NBFIs | Russia | EMEA | BB+ | BB+ | ||||||||
28-Feb-22 | First Client Bureau Non-Public Joint-Stock Co. | NBFIs | Russia | EMEA | B | B | ||||||||
28-Feb-22 | Investment Co. Freedom Finance ltd. liability co. | NBFIs | Russia | EMEA | B | B | ||||||||
28-Feb-22 | Investment Co. Veles Capital LLC | NBFIs | Russia | EMEA | BB- | BB- | ||||||||
28-Feb-22 | ABH Financial Ltd. | Banks | Russia | EMEA | BB- | BB+ | ||||||||
1-Mar-22 | Belagroprombank JSC | Banks | Belarus | EMEA | B | B | ||||||||
1-Mar-22 | JSC Savings Bank Belarusbank | Banks | Belarus | EMEA | B | B | ||||||||
1-Mar-22 | SB Alfa-Bank JSC | Banks | Kazakhstan | EMEA | BB | BB | ||||||||
1-Mar-22 | City of Kyiv | IPF | Ukraine | EMEA | B- | B | ||||||||
2-Mar-22 | KLPP Insurance and Reinsurance Co. Ltd. | Insurance | Cyprus | EMEA | BB+ | BB+ | ||||||||
3-Mar-22 | Interpipe Holdings Plc | Metals and mining | Cyprus | EMEA | B- | B | ||||||||
3-Mar-22 | Metinvest B.V. | Metals and mining | Netherlands | EMEA | B- | B+ | ||||||||
3-Mar-22 | Ferrexpo PLC | Metals and mining | United Kingdom | EMEA | B- | B- | ||||||||
3-Mar-22 | Russian Federation | Sovereigns | Russia | EMEA | CCC- | BB+ | ||||||||
4-Mar-22 | Republic of Belarus | Sovereigns | Belarus | EMEA | CCC | B | ||||||||
7-Mar-22 | ABH Financial Ltd. | Banks | Russia | EMEA | CCC- | BB- | ||||||||
7-Mar-22 | AO Raiffeisenbank | Banks | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | CentroCredit Bank JSC | Banks | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | Commercial Bank Renaissance Credit LLC | Banks | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | Concern Rossium LLC | Banks | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | Bank SOYUZ | Banks | Russia | EMEA | CCC- | BB- | ||||||||
7-Mar-22 | Gazprombank JSC | Banks | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | RN Bank JSC | Banks | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Russian Standard Bank JSC | Banks | Russia | EMEA | CCC- | B | ||||||||
7-Mar-22 | UniCredit Bank AO | Banks | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Ural Bank for Reconstruction and Development | Banks | Russia | EMEA | CCC- | B | ||||||||
7-Mar-22 | PhosAgro PJSC | Chemicals | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | EuroChem Group AG | Chemicals | Switzerland | EMEA | CCC- | BB | ||||||||
7-Mar-22 | X5 Retail Group N.V. | Consumer products | Netherlands | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Kernel Holding S.A. | Consumer products | Ukraine | EMEA | B- | B+ | ||||||||
7-Mar-22 | LUKOIL PJSC | Energy | Russia | EMEA | CCC- | BBB | ||||||||
7-Mar-22 | NOVATEK PJSC | Energy | Russia | EMEA | CCC- | BBB | ||||||||
7-Mar-22 | Rosneft Oil Co. PJSC | Energy | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Sibur Holding PJSC | Energy | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Transneft PJSC | Energy | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Gazprom PJSC | Energy | Russia | EMEA | CCC- | BBB | ||||||||
7-Mar-22 | Eurasia Drilling Co. Ltd. | Energy | Cyprus | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | TMK PAO | Energy | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | SPC Katren JSC | Health care | Russia | EMEA | CCC- | BB- | ||||||||
7-Mar-22 | Etalon LenSpetsSMU JSC | Homebuilders and developers | Russia | EMEA | CCC- | B- | ||||||||
7-Mar-22 | Stanpeak Ltd. LLC | Insurance | Cyprus | EMEA | CCC+ | BB | ||||||||
7-Mar-22 | City of Moscow | IPF | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Yamal-Nenets Autonomous Okrug | IPF | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Krasnoyarsk Krai | IPF | Russia | EMEA | CCC- | BB | ||||||||
7-Mar-22 | Leningrad Oblast | IPF | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Samara Oblast | IPF | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | ALROSA PJSC | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Holding Co. Metalloinvest JSC | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Magnitogorsk Iron and Steel Works PJSC | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | MMC Norilsk Nickel PJSC | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | NLMK PJSC | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Severstal PAO | Metals and mining | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Corp. VSMPO-AVISMA PSC | Metals and mining | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Polyus PJSC | Metals and mining | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Evraz PLC | Metals and mining | United Kingdom | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Petropavlovsk PLC | Metals and mining | United Kingdom | EMEA | CCC- | B- | ||||||||
7-Mar-22 | Setl Group LLC | Real estate | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | Magnit PJSC | Retailing | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Yandex N.V. | Technology | Netherlands | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | ER-Telecom Holding JSC | Telecommunications | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | MegaFon PJSC | Telecommunications | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Rostelecom PJSC | Telecommunications | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Sistema (PJSFC) | Telecommunications | Russia | EMEA | CCC- | BB | ||||||||
7-Mar-22 | PrJSC VF Ukraine | Telecommunications | Ukraine | EMEA | B- | B | ||||||||
7-Mar-22 | Russian Railways JSC | Transportation | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Sovcomflot PAO | Transportation | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | DeloPorts LLC | Transportation | Russia | EMEA | CCC- | B+ | ||||||||
7-Mar-22 | TransFin-M PC | Transportation | Russia | EMEA | CCC- | B | ||||||||
7-Mar-22 | Atomic Energy Power Corp. JSC | Utilities | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Federal Grid Co. of the Unified Energy System | Utilities | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Mosvodokanal JSC | Utilities | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | Rosseti PJSC | Utilities | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | RusHydro PJSC | Utilities | Russia | EMEA | CCC- | BBB- | ||||||||
7-Mar-22 | DTEK Renewables B.V. | Utilities | Netherlands | EMEA | CCC | CCC+ | ||||||||
7-Mar-22 | Public Joint Stock Co. Rosseti Centre | Utilities | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Rosseti Moscow Region PJSC | Utilities | Russia | EMEA | CCC- | BB+ | ||||||||
7-Mar-22 | Vodokanal St. Petersburg | Utilities | Russia | EMEA | CCC- | BB+ | ||||||||
8-Mar-22 | RCB Bank Ltd. | Banks | Cyprus | EMEA | B+ | BB- | ||||||||
8-Mar-22 | MHP SE | Consumer products | Ukraine | EMEA | B- | B | ||||||||
9-Mar-22 | Belagroprombank JSC | Banks | Belarus | EMEA | CCC | B | ||||||||
9-Mar-22 | Development Bank of the Republic of Belarus JSC | Banks | Belarus | EMEA | CCC | B | ||||||||
9-Mar-22 | JSC Savings Bank Belarusbank | Banks | Belarus | EMEA | CCC | B | ||||||||
10-Mar-22 | Paramount Resources Ltd. | Energy | Canada | North America | B+ | B | ||||||||
10-Mar-22 | FG BCS Ltd. | NBFIs | Cyprus | EMEA | CCC- | B+ | ||||||||
10-Mar-22 | Renaissance Financial Holdings Ltd. | NBFIs | Cyprus | EMEA | CCC- | B | ||||||||
10-Mar-22 | Investment Co. Veles Capital LLC | NBFIs | Russia | EMEA | CCC- | BB- | ||||||||
10-Mar-22 | SFI Public Joint Stock Co. | NBFIs | Russia | EMEA | CCC- | BB- | ||||||||
10-Mar-22 | Eurotorg LLC | Retailing | Belarus | EMEA | CCC | B- | ||||||||
10-Mar-22 | VEON Ltd. | Telecommunications | Bermuda | EMEA | CCC+ | BB+ | ||||||||
10-Mar-22 | EP INFRASTRUCTURE A S | Utilities | Czech Republic | EMEA | BBB | BBB | ||||||||
11-Mar-22 | Technip Energies | Energy | France | EMEA | BBB- | BBB | ||||||||
11-Mar-22 | QIWI PLC | NBFIs | Cyprus | EMEA | CCC- | BB- | ||||||||
11-Mar-22 | Ronin Europe Ltd. | NBFIs | Cyprus | EMEA | B | BB- | ||||||||
11-Mar-22 | First Client Bureau Non-Public Joint-Stock Co. | NBFIs | Russia | EMEA | CCC- | B | ||||||||
11-Mar-22 | Credit Union Payment Center | NBFIs | Russia | EMEA | CCC+ | BB+ | ||||||||
11-Mar-22 | Frigoglass SAIC | Capital goods | Greece | EMEA | CCC | B- | ||||||||
14-Mar-22 | Fortum Oyj | Utilities | Finland | EMEA | BBB | BBB | ||||||||
14-Mar-22 | Uniper SE | Utilities | Germany | EMEA | BBB | BBB | ||||||||
16-Mar-22 | Tarkett Participation | Building materials | France | EMEA | B+ | BB- | ||||||||
17-Mar-22 | Investment Company Freedom Finance limited liability company | NBFIs | Russia | EMEA | CCC- | B | ||||||||
17-Mar-22 | Russian Federation | Sovereigns | Russia | EMEA | CC | CCC- | ||||||||
17-Mar-22 | Softline Holding PLC | Technology | Cyprus | EMEA | CCC+ | B | ||||||||
17-Mar-22 | Coca-Cola HBC AG | Consumer products | Switzerland | EMEA | BBB+ | BBB+ | ||||||||
18-Mar-22 | SB Alfa-Bank JSC | Banks | Kazakhstan | EMEA | B | BB | ||||||||
18-Mar-22 | Oriflame Investment Holding Plc | Capital goods | Jersey | EMEA | B | B+ | ||||||||
21-Mar-22 | Centennial Resource Development Inc., | Energy | United States | North America | B | B- | ||||||||
24-Mar-22 | MHP SE | Consumer products | Ukraine | EMEA | SD | B- | ||||||||
30-Mar-22 | Krasnoyarsk Krai | IPF | Russia | EMEA | CCC- | CC | ||||||||
30-Mar-22 | Leningrad Oblast | IPF | Russia | EMEA | CCC- | CC | ||||||||
30-Mar-22 | Moscow (City of) | IPF | Russia | EMEA | CCC- | CC | ||||||||
30-Mar-22 | Samara Oblast | IPF | Russia | EMEA | CCC- | CC | ||||||||
30-Mar-22 | Yamal-Nenets Autonomous Okrug | IPF | Russia | EMEA | CCC- | CC | ||||||||
31-Mar-22 | ABH Financial Limited | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | CentroCredit Joint Stock Commercial Bank | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Commercial Bank Renaissance Credit | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Credit Union Payment Center | NBFIs | Russia | EMEA | CCC | CCC+ | ||||||||
31-Mar-22 | First Client Bureau Non-Public Joint-Stock Company | NBFIs | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Gazprombank (Joint-stock Company) | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint Stock Company Alfa-Bank | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint Stock Company Raiffeisenbank | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint Stock Company RN Bank | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint Stock Company Russian Standard Bank - АО | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint Stock Company UniCredit Bank | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Joint-stock company "Bank SOYUZ" | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Limited Liability Company Concern ROSSIUM | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | LLC IC Freedom Finance | NBFIs | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Public Joint Stock Company The Ural Bank for Reconstruction and Development | Banks | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Sistema Public Joint Stock Financial Corporation | Telecommunications | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | TransFin-M Public Company | Real estate | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Veles Capital Investment | NBFIs | Russia | EMEA | CC | CCC- | ||||||||
31-Mar-22 | Republic of Estonia | Sovereigns | Estonia | EMEA | AA- | AA- | ||||||||
1-Apr-22 | AO Etalon LenSpetsSMU | Real estate | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | AO Holding Company METALLOINVEST | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | AO Mosvodokanal | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Joint Stock Company Atomic Energy Power Corporation | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Leader Invest JSC | Real estate | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Limited Liability Company Setl Group | Real estate | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | OOO DeloPorts | Transportation | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Open Joint Stock Company "Russian Railways" | Transportation | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | PAO NOVATEK | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | PAO Sovcomflot | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | PJSC LUKOIL | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | PAO TMK | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company "Novolipetsk Steel" | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company "SFI" | NBFIs | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company "SIBUR Holding" | Chemicals | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company ALROSA | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Gazprom | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Magnit | Retailing | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Magnitogorsk Iron & Steel Works | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company MegaFon | Telecommunications | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Polyus | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Rosneft Oil Company | Energy | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Rosseti Centre | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Rostelecom | Telecommunications | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint Stock Company Severstal | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint-Stock Company "Rosseti Moscow Region" | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint-Stock Company Federal Grid Company of Unified Energy System | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint-Stock Company Federal Hydro-Generating Company - RusHydro | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Public Joint-Stock Company PhosAgro | Chemicals | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | public stock company VSMPO-AVISMA Corporation | Metals and mining | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | Rosseti, Public Joint Stock Company | Utilities | Russia | EMEA | CC | CCC- | ||||||||
1-Apr-22 | State Unitary Enterprise Vodokanal of St. Petersburg | Utilities | Russia | EMEA | CC | CCC- | ||||||||
8-Apr-22 | Kernel Holding S.A. | Consumer products | Ukraine | EMEA | SD | B- | ||||||||
8-Apr-22 | Republic of Armenia | Sovereigns | Armenia | EMEA | B+ | B+ | ||||||||
8-Apr-22 | Russian Federation | Sovereigns | Russia | EMEA | SD | CC | ||||||||
11-Apr-22 | Vermilion Energy Inc. | Energy | Canada | North America | B+ | B | ||||||||
12-Apr-22 | Ameriabank CJSC | Banks | Armenia | EMEA | B+ | B+ | ||||||||
12-Apr-22 | Petropavlovsk PLC | Metals and mining | United Kingdom | Europe | SD | CCC- | ||||||||
13-Apr-22 | Borets International Ltd. | Energy | United Arab Emirates | EMEA | CC | CCC- | ||||||||
13-Apr-22 | Eurasia Drilling Co. Ltd. | Energy | Cyprus | EMEA | CC | CCC- | ||||||||
13-Apr-22 | Evraz PLC | Metals and mining | United Kingdom | Europe | CC | CCC- | ||||||||
13-Apr-22 | Vimpel-Communications | Telecommunications | Russia | EMEA | CC | CCC- | ||||||||
13-Apr-22 | X5 Retail Group N.V. | Retailing | Netherlands | EMEA | CC | CCC- | ||||||||
13-Apr-22 | Yandex N.V. | Media and entertainment | Netherlands | EMEA | CC | CCC- | ||||||||
14-Apr-22 | EuroChem Group AG | Chemicals | Switzerland | EMEA | SD | CCC- | ||||||||
14-Apr-22 | OnlineKazFinance Microfinance Organization LLP | NBFIs | Kazakhstan | EMEA | CCC+ | B | ||||||||
25-Apr-22 | 4finance Holding S.A. | NBFIs | Luxembourg | EMEA | B- | B | ||||||||
5-May-22 | Insurance Co. Jusan Garant JSC | Insurance | Kazakhstan | EMEA | BB- | BB- | ||||||||
5-May-22 | K+S AG | Chemicals | Germany | EMEA | BB | B+ | ||||||||
5-May-22 | Republic of Belarus | Sovereign | Belarus | EMEA | CC | CCC | ||||||||
10-May-22 | EP Infrastructure a.s. | Utilities | Czech Republic | EMEA | BBB- | BBB | ||||||||
13-May-22 | Belagroprombank JSC | Banks | Belarus | EMEA | CC | CCC | ||||||||
13-May-22 | Development Bank of the Republic of Belarus JSC | Sovereign/GRE | Belarus | EMEA | CC | CCC | ||||||||
13-May-22 | JSC Savings Bank Belarusbank | Banks | Belarus | EMEA | CC | CCC | ||||||||
16-May-22 | Uniper SE | Utilities | Germany | EMEA | BBB- | BBB | ||||||||
20-May-22 | Slovak Republic | Sovereign | Slovak Republic | Europe | A+ | A+ | ||||||||
23-May-22 | Eurotorg LLC | Retailing | Belarus | EMEA | CC | CCC | ||||||||
24-May-22 | Fincraft Group LLP | NBFIs | Kazakhstan | EMEA | BB- | BB- | ||||||||
27-May-22 | Republic of Ukraine | Sovereign | Ukraine | EMEA | CCC+ | B- | ||||||||
1-Jun-22 | Ukrainian Railways JSC | Transportation | Ukraine | EMEA | CCC | CCC+ | ||||||||
2-Jun-22 | Nomad Insurance Co. | Insurance | Kazakhstan | EMEA | BB | BB | ||||||||
10-Jun-22 | Serbia | Sovereign | Serbia | Europe | BB+ | BB+ | ||||||||
14-Jun-22 | DTEK Renewables B.V. | Utilities | Netherlands | EMEA | CCC- | CCC | ||||||||
15-Jun-22 | PrJSC VF Ukraine | Telecom | Ukraine | EMEA | CCC+ | B- | ||||||||
20-Jun-22 | Metro AG | Retailing | Germany | EMEA | BBB- | BBB- | ||||||||
21-Jun-22 | Ravnaq Bank | Banks | Uzbekistan | EMEA | CCC+ | B- | ||||||||
5-Jul-22 | Fortum Oyj | Utilities | Finland | EMEA | BBB | BBB | ||||||||
11-Jul-22 | Guacolda Energia S.A. | Utilities | Chile | Latin America | B- | B | ||||||||
13-Jul-22 | Tengizchevroil LLP | Energy | Kazakhstan | EMEA | BBB- | BBB- | ||||||||
14-Jul-22 | Verbund AG | Utilities | Germany | EMEA | A | A | ||||||||
NBFIs--Nonbank financial institutions. IPF--International public finance. Data through July 19, 2022. Source: S&P Global Ratings Research. |
Table 2
List Of Suspended Ratings | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Date | Company | Industry | Country of domicile | Region | ||||||
These ratings are currently suspended due to reduced operational visibility or fallout from the conflict. | ||||||||||
22-Mar-22 | G.N.Terminal Enterprises Ltd. | Consumer products | Cyprus | EMEA | ||||||
30-Mar-22 | Ferrexpo plc | Metals and mining | United Kingdom | EMEA | ||||||
30-Mar-22 | Interpipe Holdings PLC | Metals and mining | Cyprus | EMEA | ||||||
30-Mar-22 | Metinvest B.V. | Metals and mining | Netherlands | EMEA | ||||||
Data through July 19, 2022. Source: S&P Global Ratings Research. GRE--Government related entity. |
Table 3
List Of Withdrawn Ratings | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
These ratings have been withdrawn at the companies' request or due to regulatory requirements. | ||||||||||
Date | Company | Industry | Country Of Domicile | Region | ||||||
17-Mar-22 | Transneft PJSC | Energy | Russia | EMEA | ||||||
17-Mar-22 | ER-Telecom | Telecommunications | Russia | EMEA | ||||||
30-Mar-22 | Krasnoyarsk Krai | IPF | Russia | EMEA | ||||||
30-Mar-22 | Leningrad Oblast | IPF | Russia | EMEA | ||||||
30-Mar-22 | Moscow (City of) | IPF | Russia | EMEA | ||||||
30-Mar-22 | Samara Oblast | IPF | Russia | EMEA | ||||||
30-Mar-22 | Yamal-Nenets Autonomous Okrug | IPF | Russia | EMEA | ||||||
31-Mar-22 | Renaissance Financial Holding | NBFIs | Cyprus | EMEA | ||||||
31-Mar-22 | Stanpeak Ltd. | Insurance | Cyprus | EMEA | ||||||
31-Mar-22 | ABH Financial Ltd. | Banks | Russia | EMEA | ||||||
31-Mar-22 | CentroCredit Joint Stock Commercial Bank | Banks | Russia | EMEA | ||||||
31-Mar-22 | Commercial Bank Renaissance Credit | Banks | Russia | EMEA | ||||||
31-Mar-22 | Credit Union Payment Center | NBFIs | Russia | EMEA | ||||||
31-Mar-22 | First Client Bureau Non-Public JSC | NBFIs | Russia | EMEA | ||||||
31-Mar-22 | Gazprombank (JSC) | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC Alfa-Bank | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC Raiffeisenbank | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC RN Bank | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC Russian Standard Bank - АО | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC UniCredit Bank | Banks | Russia | EMEA | ||||||
31-Mar-22 | JSC "Bank SOYUZ" | Banks | Russia | EMEA | ||||||
31-Mar-22 | LLC Concern ROSSIUM | Banks | Russia | EMEA | ||||||
31-Mar-22 | LLC IC Freedom Finance | NBFIs | Russia | EMEA | ||||||
31-Mar-22 | Public JSC The Ural Bank for Reconstruction and Development | Banks | Russia | EMEA | ||||||
31-Mar-22 | Sistema Public Joint Stock Financial Corp. | Telecommunications | Russia | EMEA | ||||||
31-Mar-22 | TransFin-M Public Co. | Real estate | Russia | EMEA | ||||||
31-Mar-22 | Veles Capital Investment | NBFIs | Russia | EMEA | ||||||
31-Mar-22 | Promsvyazbank PJSC | Banks | Russia | EMEA | ||||||
31-Mar-22 | VTB Bank | Banks | Russia | EMEA | ||||||
31-Mar-22 | Sovcombank PJSC | Banks | Russia | EMEA | ||||||
31-Mar-22 | VEB.RF | GRE | Russia | EMEA | ||||||
31-Mar-22 | Krayinvestbank | Banks | Russia | EMEA | ||||||
31-Mar-22 | BANK ROSSIYA | Banks | Russia | EMEA | ||||||
31-Mar-22 | Rosgosstrakh PJSC | Insurance | Russia | EMEA | ||||||
31-Mar-22 | Sogaz Insurance | Insurance | Russia | EMEA | ||||||
1-Apr-22 | AO Etalon LenSpetsSMU | Real estate | Russia | EMEA | ||||||
1-Apr-22 | AO Holding Co. METALLOINVEST | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | AO Mosvodokanal | Utilities | Russia | EMEA | ||||||
1-Apr-22 | JSC Atomic Energy Power Corp. | Utilities | Russia | EMEA | ||||||
1-Apr-22 | Leader Invest JSC | Real estate | Russia | EMEA | ||||||
1-Apr-22 | LLC Setl Group | Real estate | Russia | EMEA | ||||||
1-Apr-22 | OOO DeloPorts | Transportation | Russia | EMEA | ||||||
1-Apr-22 | Open JSC "Russian Railways" | Transportation | Russia | EMEA | ||||||
1-Apr-22 | PAO NOVATEK | Energy | Russia | EMEA | ||||||
1-Apr-22 | PAO Sovcomflot | Energy | Russia | EMEA | ||||||
1-Apr-22 | PJSC LUKOIL | Energy | Russia | EMEA | ||||||
1-Apr-22 | PAO TMK | Energy | Russia | EMEA | ||||||
1-Apr-22 | Public JSC "Novolipetsk Steel" | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSC "SFI" | NBFIs | Russia | EMEA | ||||||
1-Apr-22 | Public JSC "SIBUR Holding" | Chemicals | Russia | EMEA | ||||||
1-Apr-22 | Public JSC ALROSA | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Gazprom | Energy | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Magnit | Retailing | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Magnitogorsk Iron & Steel Works | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSC MegaFon | Telecommunications | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Mining and Metallurgical Co. Norilsk Nickel | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Polyus | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Rosneft Oil Co. | Energy | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Rosseti Centre | Utilities | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Rostelecom | Telecommunications | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Severstal | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Public JSc "Rosseti Moscow Region" | Utilities | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Federal Grid Co. of Unified Energy System | Utilities | Russia | EMEA | ||||||
1-Apr-22 | Public JSC Federal Hydro-Generating Co. - RusHydro | Utilities | Russia | EMEA | ||||||
1-Apr-22 | Public JSC PhosAgro | Chemicals | Russia | EMEA | ||||||
1-Apr-22 | public stock co. VSMPO-AVISMA Corp. | Metals and mining | Russia | EMEA | ||||||
1-Apr-22 | Rosseti, Public JSC | Utilities | Russia | EMEA | ||||||
1-Apr-22 | State Unitary Enterprise Vodokanal of St. Petersburg | Utilities | Russia | EMEA | ||||||
8-Apr-22 | Russian Federation | Sovereign | Russia | EMEA | ||||||
12-Apr-22 | Petropavlovsk PLC | Metals and mining | U.K. | Europe | ||||||
13-Apr-22 | BCS Prime Brokerage Ltd. | NBFIs | U.K. | Europe | ||||||
13-Apr-22 | Borets International Ltd. | Energy | United Arab Emirates | EMEA | ||||||
13-Apr-22 | BrokerCreditService (Cyprus) Ltd. | NBFIs | Cyprus | EMEA | ||||||
13-Apr-22 | BrokerCreditService Structured Products PLC | NBFIs | Cyprus | EMEA | ||||||
13-Apr-22 | Eurasia Drilling Co. Ltd. | Energy | Cyprus | EMEA | ||||||
13-Apr-22 | Evraz PLC | Metals and mining | U.K. | Europe | ||||||
13-Apr-22 | FG BCS Ltd. | NBFIs | Cyprus | EMEA | ||||||
13-Apr-22 | JSC SB Alfa-Bank Kazakhstan | Banks | Kazakhstan | EMEA | ||||||
13-Apr-22 | QIWI plc | NBFIs | Cyprus | EMEA | ||||||
13-Apr-22 | Softline Holding PLC | Technology | Cyprus | EMEA | ||||||
13-Apr-22 | Veon Ltd. | Telecommunications | Bermuda | U.S. | ||||||
13-Apr-22 | Vimpel-Communications | Telecommunications | Russia | EMEA | ||||||
13-Apr-22 | X5 Retail Group N.V. | Retailing | Netherlands | EMEA | ||||||
13-Apr-22 | Yandex N.V. | Media and entertainment | Netherlands | EMEA | ||||||
14-Apr-22 | EuroChem Group AG | Chemicals | Switzerland | EMEA | ||||||
15-Apr-22 | GeoProMining Investment (CYP) Ltd. | Metals and mining | Cyprus | EMEA | ||||||
15-Apr-22 | Karlou B.V. | Metals and mining | Netherlands | EMEA | ||||||
1-Jun-22 | RCB Bank Ltd. | Banks | Cyprus | EMEA | ||||||
Data through July 19, 2022. Source: S&P Global Ratings Research. |
S&P Global Ratings acknowledges a high degree of uncertainty about the extent, outcome, and consequences of the military conflict between Russia and Ukraine. As the situation evolves, we will continue to assess the related effects on economies worldwide, the ramifications for financial and commodity markets, and the impact on borrowing conditions and credit quality.
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This report does not constitute a rating action.
Additional Contact: | Credit Markets Research; cmr@spglobal.com |
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