Moody's upgraded Tatneft's Rating to Ba1

Moody's investor Services upgraded Tatneft's credit rating to "Ba1" with stable outlook

5 July 2012

Moody's Investor Services announced that it has upgraded the corporate family and probability of default ratings of Tatneft to "Ba1", the rating outlook is Stable.

According to Julia Pribytkova, a Moody's Vice President -- Senior Analyst and lead analyst for Tatneft, "today's rating action was prompted by the shift in Tatneft's operating profile towards an integrated business model comprising sizeable downstream operations, as well as its robust operating and financial performance". Full press-release relating to Tatneft's ratings is available on Moody's web-site: www.moodys.com

As a reminder, in June of this year Fitch Ratings decided to upgrade Tatneft's credit rating to BB+ with stable outlook.

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