As stated in the message S&P, the rating Outlook 19 Russian companies was changed from “negative” to “stable”. In the case of company “NOVATEK” rating displaced on review for possible further promotion.
In most cases, a rating maintained at BB+. The exception was long-term rating of “Transneft”, “Gazprom Capital” and the Russian Railways in national currency (BBB-), “LUKOIL”, “Severstal” and NLMK in national and foreign currency (BBB-).
The Outlook on the ratings of “Norilsk Nickel”, OJSC PhosAgro and DME ltd left unchanged due to their financial performance, said the Agency “RIA Novosti”.
On 16 September, Standard & Poor’s raised the Outlook on the credit rating of Russia from “negative” to “stable”, leaving the country’s rating at BB+, is below investment grade.
In a press release the Agency noted that external risks have substantially decreased. The Agency expects the Russian economy and politics will continue to adapt to low oil prices. Russia’s GDP in 2017-2019 will grow on average by 1.6% (after expected decline of 1% in 2016). S&P forecasts that net capital outflow from Russia in 2016 will drop to $40 billion (compared to $58 billion in 2015).
Rating, as noted by S&P, can be upgraded if Russia will demonstrate a high level of stability of the financial system and economic growth amid a possible rise in oil prices or easing of the sanctions regime.
International sanctions against Russia, in the years 2016-2019, Fitch expects will remain in force.