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Credit rating history for issuer AvtoVAZ

Rating Agency	Rating scale	Date	Rating	Forecast	Additional information
Fitch Ratings	Int.l Scale (local curr.)	04.05.2012	B-	Stable
	Int.l Scale (local curr.)	30.03.2011	B-	Stable
	Int. Scale (foreign curr.)	04.05.2012	B-	Stable
		02.03.2012	B-	Stable
		30.03.2011	B-	Stable
	National Scale (Russia)	04.05.2012	BB(rus)
	National Scale (Russia)	30.03.2011	BB(rus)	Stable
RA AK&M	National Scale (Russia)	00.00.2007	SROK ISTEK
RA AK&M	National Scale (Russia)	01.09.2004	A	Stable
National Rating Agency	National scale (Russia)	06.07.2007	BBB+