Moody's rating of ICT was withdrawn by its own business decision

28.11.2018 |

Moody's Investors Service, ("Moody's") has today withdrawn corporate family rating of ICT Holding Ltd. (ICT), previously assigned by Moody's Investors Service ("Moody's"), by ICT’s initiative due to company’s business reasons.

Previously this year, Moody’s reassured the B1 corporate family rating (CFR) and the B1-PD probability of default rating (PDR) of ICT Holding Ltd. with the stable outlook on the ratings. First-time corporate family rating to ICT was assigned by Moody’s in 2017.

ICT Holding Ltd. (ICT) is a Cyprus-domiciled private investment holding with investments in a few sectors and countries, highly concentrated in Russia's mining industry, namely in Polymetal International Plc. ICT's investment portfolio totaled around $2.46 billion at end-2017. ICT is ultimately owned by several individuals, with Alexander Nesis holding the largest ownership in the company.

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