Moody's cuts Russian Railways rating to Baa1, outlook negative

MOSCOW, April 7 (RIA Novosti) - Moody's has downgraded Russian Railways' issuer rating to "Baa1" from "A3" with a negative outlook, the agency said Tuesday.

Moody's said that in the current economic conditions the railroad monopoly's dependence upon the state is increasing, so the monopoly's rating could no longer remain higher than Russia's current sovereign rating, "Baa1."