KIEV, Oct. 6 -- Moody's Investors Service has changed the probability of default rating (PDR) of NJSC Naftogaz of Ukraine to Ca/LD from Ca.

As Moody's said in a statement, the rating action reflects the actual default by Naftogaz on repayment of its $500 million Loan Participation Notes due Sept. 30 2009.

According to the statement, Naftogaz's foreign currency corporate family and debt ratings remain unchanged at this point in time at Caa2. The ratings remain under review with direction uncertain, which reflects uncertainty over the execution of the restructuring proposal put forward by the company to its debt holders.