S&P lifts Mosvodokanal view to stable

S&P said it revised the outlook on Mosvodokanal JSC to stable from negative.

The agency also said it affirmed the company’s BB+ long-term and B short-term corporate credit ratings, along with its ruAA+ Russia national scale rating.

The outlook revision follows a similar rating action on the city of Moscow, S&P explained.

The agency said it believes there is a very high likelihood that the city government would provide extraordinary support to Mosvodokanal if needed.

The company’s stand-alone credit profile remains at BB+.

The stable outlook directly reflects the outlook on Moscow, S&P said, along with a belief that the financial risks of Mosvodokanal's ambitious investment program will be mitigated by the utility's monopoly position and strong ongoing support from the city.

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