OREANDA-NEWS. Expert RA Rating Agency (RAEX) downgraded credit (long-term creditworthiness) rating of UTair and UTair-Finance companies to C ("Unsatisfactory (selective default) level of creditworthiness"), developing outlook. Developing outlook means rating stability and change are equally likely. Expert RA Rating Agency (RAEX) downgraded reliability ratings of bond issues BO-06 (ISIN RU000A0JS7B1, registration No. 4B02-06-36059-R), BO-07 (ISIN RU000A0JS7C9, registration No. 4B02-07-36059-R), BO-08 (ISIN RU000A0JS8N4, registration No. 4B02-08-36059-R), BO-09 (ISIN RU000A0JTBH8, registration No. 4B02-09-36059-R), BO-10 (ISIN RU000A0JTBM8, registration No. 4B02-10-36059-R), BO-11 (ISIN RU000A0JTZ80, registration No. 4B02-11-36059-R), BO-12 (ISIN RU000A0JTZA2, registration No. 4B02-12-36059-R), BO-13 (ISIN RU000A0JTZB0, registration No. 4B02-13-36059-R), BO-16 (ISIN RU000A0JS8P9, registration No. 4B02-16-36059-R), 05 (ISIN RU000A0JRN60, registration No. 4-05-36059-R) of UTair-Finance to C ("Unsatisfactory (selective default) level of creditworthiness"). Earlier the Companies had rating C+ "Very low level of creditworthiness (pre-default)", rating outlook - "developing". Rating C+ was previously assigned to bond issues.

Expert RA is Russian rating agency working on a global scale, incorporated in 1997 by Expert magazine. Expert RA is a true market leader in ratings and survey-communication activity.

Expert RA was evaluated and certified as satisfying to ISO 9001:2008 demands in the following areas: assigning and actualizing expert assessments; analysis of markets and companies, survey activity; organization of business-forums, conferences and round tables. Rating methods were approved by leading international audit-consultation companies: PricewaterhouseCoopers, Deloitte. Procedural quality and information confidentiality principles are confirmed by Accenture.

Expert RA is accredited at the RF Ministry of Finance. The Agency ratings are included in the list of official requirements to banks, insurers, pension funds, issuers. Expert RA ratings have been officially recognized by FSFM, Central Bank of Russia, Vnesheconombank of Russia, MICEX-RTS, Mortgage Crediting Agency, Deposit Insurance Agency, professional associations and self-regulating organizations: VSS, Russia Association, Strategic Initiative Agency, RSA, NAPF, NLU, NSG, NFA, and hundreds of companies and agencies in the period of bids and tenders.

By now the Agency assigned about 800 individual ratings. Expert RA is the largest rating agency in Russia and CIS, it tops the list of other Russian and foreign agencies by a number of ratings assigned to banks and companies in CIS countries. Expert RA is the first (36%) at the market of legal entity credit risks, the first at the bank rating market; the first (85%) at the market of credibility ratings, assigned to Russian insurance companies in Russia.