Report
EUR 695.30 For Business Accounts Only

Integrated Oil and Gas - Russia: Credit Profiles to Stay Robust in 2017, but Will Remain Constrained by the Sovereign

CORPORATES SECTOR IN-DEPTH 25 April 2017 TABLE OF CONTENTS Credit metrics to stay robust in 2017, despite leverage uptick for some 3 Upstream activities will continue to be the primary focus and earnings' driver 7 Rationing of downstream capex to continue amid dwindling profitability 9 Russia's credit profile continues to constrain some companies' ratings 11 Appendix A - Russia
Provider
Moody's Investors Service
Moody's Investors Service

Moody's Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody's commitment and expertise contributes to transparent and integrated financial markets, protecting the integrity of credit. Our ratings and analysis track debt covering more than:

  • 130 countries
    11,000 corporate issuers
    21,000 public finance issuers
    76,000 structured finance obligations



Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Such independent credit ratings and research also contribute to efficiencies in fixed-income markets and other obligations, such as insurance policies and derivative transactions, by providing credible and independent assessments of credit risk.



Moody’s default studies validate our predictive ratings. Our published research and investor briefings draw thousands of attendees each year and keep investors current with the rationale underlying our credit opinions. 

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