OREANDA-NEWS. This announcement corrects the version published on 13 January 2015 to include the downgrade of the ratings on the notes issued by Gaz Capital SA.

Fitch Ratings has taken rating actions on 13 Russian companies, following our downgrade of the Russian sovereign.

On 9 January 2015, Fitch downgraded Russia's Long-term foreign and local currency Issuer Default Ratings (IDR) to 'BBB-' from 'BBB'. The issue ratings on Russia's senior unsecured foreign and local currency bonds were also downgraded to 'BBB-' from 'BBB'. The Outlooks on the Long-term IDRs are Negative. The Country Ceiling was lowered to 'BBB-'from 'BBB'. The Short-term foreign currency IDR was affirmed at 'F3' (see 'Fitch Downgrades Russia to 'BBB-'; Outlook Negative' at www.fitchratings.com).

The rating actions reflect Fitch's view that these entities' ratings are now constrained by the sovereign Rating and Outlook, and have been revised to reflect this. This rating view is consistent with the lowering of the Russian Country Ceiling to 'BBB-'. State-owned issuers notched down from the sovereign IDR on the basis of Fitch's 'Parent and Subsidiary Rating Linkage' criteria have also been downgraded to maintain the respective rating differentials.

Fitch expects to publish a further rating action commentary in the near future summarising non-financial corporate Russian National Scale ratings.

The rating actions are as follows:

JSC Atomic Energy Power Corporation (Atomenergoprom)
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Short-Term Local Currency IDR affirmed at 'F3'
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Short term foreign currency IDR; affirmed at 'F3'

Please see 'Fitch Affirms Atomenergoprom at 'BBB'; Outlook Negative' dated 17 July 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

OAO Gazprom
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Short-term IDR: affirmed at 'F3'
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Senior unsecured rating: downgraded to 'BBB-' from 'BBB'
Senior unsecured rating for OOO Gazprom Capital: downgraded to 'BBB-' from 'BBB'
Short-term Commercial Paper Rating from Gazprom ECP SA: affirmed at F3.
Senior unsecured rating for Gaz Capital SA: downgraded to 'BBB-' from 'BBB'

Please see 'Fitch Affirms Gazprom at 'BBB'; Outlook Negative'' dated 29 July 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities

JSC Gazprom Neft
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Foreign currency senior unsecured rating: downgraded to 'BBB-' from 'BBB'
Short-term IDR affirmed at 'F3'
Senior unsecured rating for GPN Capital SA: downgraded to 'BBB-' from 'BBB'

The rating actions on Gazprom Neft and GPN Capital SA applies to all debt issued prior to 1 August 2014.

Please see 'Fitch Affirms Russia's Gazprom Neft at 'BBB'; Outlook Negative' dated 28 October 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

OAO LUKOIL
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Short term IDR affirmed at F3
Foreign currency senior unsecured rating: downgraded to 'BBB-' from 'BBB'
Senior unsecured rating for LUKOIL International Finance BV: downgraded to 'BBB-' from 'BBB'

Please see 'Fitch Affirms Russia's LUKOIL at 'BBB'; Outlook Negative' for Key Rating Drivers and Rating Sensitivities.

OAO Novatek
Long-term local currency IDR: affirmed at BBB-; Outlook revised to Negative from Stable
Long-term foreign currency IDR: affirmed at BBB-; Outlook revised to Negative from Stable
Foreign currency senior unsecured rating: affirmed at 'BBB-'
Senior unsecured rating for Novatek Finance Limited: affirmed at 'BBB-'
The affirmation of OAO Novatek and Novatek Finance applies to all debt issued prior to 1 August 2014.

Please see 'Fitch Affirms Russia's Novatek at 'BBB-', Outlook Stable' dated 08 September 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

JSC Russian Railways
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Local currency senior unsecured rating: downgraded to 'BBB-' from 'BBB'
Short term foreign currency IDR affirmed at 'F3'
Short-term local currency IDR affirmed at 'F3'
RZD Capital PLC foreign currency senior unsecured rating: downgraded to 'BBB-' from 'BBB'

Please see 'Fitch Affirms JSC Russian Railways at 'BBB'' dated 25 February 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

JSC Federal Passenger Company
Long-term local currency IDR: downgraded to 'BB+' from 'BBB-'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BB+' from 'BBB-'; Outlook Negative
Short term foreign currency IDR downgraded to 'B' from 'F3'
Short-term local currency IDR downgraded to 'B' from 'F3'

Please see 'Fitch Assigns Federal Passenger Company at 'BBB-'; Outlook Stable' dated 28 February 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

OJSC Federal Grid Company of Unified Energy System
Long-term local currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB'; Outlook Negative
Foreign currency senior unsecured rating: downgraded to 'BBB-' from 'BBB'
Short-term foreign currency IDR affirmed at 'F3'
Federal Grid Finance Limited local currency senior unsecured rating downgraded to 'BBB-' from 'BBB'

Please see 'Fitch Rates JSC Federal Grid Company UED 'BBB'; Outlook Stable' dated 25 October 2013 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

Polyus Gold International Limited
Long-term foreign currency IDR: affirmed at 'BBB-'; Outlook revised to Negative
Foreign currency senior unsecured rating: affirmed at 'BBB-'
Short-term IDR affirmed at 'F3'

Please see 'Fitch Affirms Polyus Gold at 'BBB-'; Outlook Stable' dated 03 July 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

Rostelecom OJSC
Long-term foreign currency IDR: affirmed at 'BBB-'; Outlook revised to Negative from Stable
Foreign currency senior unsecured rating: affirmed at 'BBB-'

Please see 'Fitch Affirms Rostelecom at 'BBB-'; Outlook Stable' dated 30 September 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

Sukhoi Civil Aircraft
Long-term local currency IDR: downgraded to 'BB-' from 'BB'; Outlook Negative
Long-term foreign currency IDR: downgraded to 'BB-' from 'BB'; Outlook Negative
Foreign currency senior unsecured rating: downgraded to 'BB-' from 'BB'
Short-term IDR: affirmed at 'B'
Local currency Short-term IDR: affirmed at 'B'
The rating action on Sukhoi Civil Aircraft applies to all debt issued prior to 1 August 2014.

Please see 'Fitch Affirms Sukhoi Civil Aircraft at 'BB'; Outlook Negative' dated 22 December 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

OAO Tatneft
Long-term foreign currency IDR: affirmed at 'BBB-'; Outlook revised to Negative from Stable
Short-term IDR affirmed at 'F3'

Please see 'Fitch Upgrades Tatneft to 'BBB-'; Outlook Stable' dated 18 June 2014 at www.fitchratings.com for Key Rating Drivers and Rating Sensitivities.

Uralkali
Long-term foreign currency IDR: affirmed at 'BBB-'; Outlook revised to Negative from Stable
Uralkali Finance Limited foreign currency senior unsecured rating: affirmed at 'BBB-'