The ratings agency is standing by its Ba2 negative stance on SCF despite its linkage to the Russian economy via its 100% government ownership.

Denis Perevezentsev, vice president and senior analyst at Moody's, explains the weakening of Russia's credit profile will not affect the degree of government support the shipowner and other government-related issuers will receive.

In a report Perevezentsev suggested state support for SCF will remain strong.

SCF,