S&P downgraded the ratings

Read vl-news.com. In particular, the long-term credit ratings in foreign currency of Gazprom”, Gazprom Neft, Rosneft, Transneft, Novatek, MTS, Megaphone, Russian Railways have been lowered from BBB- to BB + with a “negative” outlook.

The ratings of the Federal Passenger Company, UES FGC, Rosseti and Transneft have also been lowered from BBB- to BB +. Short-term ratings of Gazprom and Rosseti have been lowered to B from A-3.

At the same time the agency confirmed the rating of Lukoil at BBB- with a “negative” outlook. “This confirmation reflects the agency’s opinion that Lukoil can withstand a default in the country and, thus, may have a rating which is one level higher than the rating of Russia”, – noted in the agency.

The rating actions of S&P follow the downgraded sovereign rating of Russia.

On January 26, Standard & Poor for the first time in the last decade has downgraded the sovereign credit rating of Russia from BBB- to BB +, that is below the investment grade. The rating outlook is “negative”.

On January 9, another one of the world’s leading rating agencies Fitch downgraded Russia’s long-term credit rating by one notch to BBB-. The reasons were cited as a sharp decline of the ruble and oil prices, as well as an increase of the key rate to 17 percent.

On January 16, Moody’s downgraded by one notch – from Baa2 to Baa3 – the long-term rating of the government bonds of the Russian Federation.

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