"MOODY'S upgrades foreign currency issuer ratings of Tyumen Oil Company to Ba3"
Moody's Investors Service has upgraded the foreign currency issuer ratings of Tyumen Oil Company ("TNK") from B2 to Ba3. The action follows the upgrade of Russia's foreign currency country ceiling from B2 to Ba3. The rating is stable. The local currency issuer rating for TNK remains at Ba2, with stable outlook. TNK, headquartered in Moscow, is the third largest vertically integrated oil company in Russia on the basis of its hydrocarbon reserves and fourth on the basis of production.
Alfa Group Consortium
Alfa Group Consortium ("Alfa"), founded in 1989, is one of the largest privately owned financial-investment conglomerates in Russia. Alfa Group is a combination of independent businesses, operating mainly in Russia and the CIS. Alfa companies’ businesses include commercial and investment banking, asset management, insurance, retail trade, water utilities, mineral water production as well as special-situation investments. Companies of Alfa typically focus on value-oriented, longer-term opportunities, primarily in Russia and the CIS, but also invest in other markets which form part of their strategic business objectives.