OREANDA-NEWS. August 25, 2014. UCL Rail B.V. transportation group, holding a leading position in the Russian freight rail market (hereinafter - UCL Rail or the Group), announces that it has sent withdrawal notifications to Moody's Investors Service and Standard & Poor's Rating Services in order to reduce the number of credit ratings maintained simultaneously.

The action aims to provide cost benefits on the back of very limited Eurobond market opportunities over the next 12 months.

"We kindly thank the rating agencies for their cooperation and high-quality analytical support, and we do not rule out possible resumption of credit ratings with the agencies in the future", - said Alex Zinoviev Director of UCL Rail.

The Group also has BB+ credit rating from Fitch.