S&P ups Novatek outlook to positive

Standard & Poor's said it revised its outlook on OAO Novatek to positive from stable, following a review of the company's financial and operating performance.

At the same time, the BB- long-term corporate credit and ruAA- Russia national-scale ratings on Novatek were affirmed, the agency said.

S&P added that the outlook revision reflects the positive trends visible in Novatek's favorable financial metrics, with no net debt and strong profitability, impressive organic production growth that is set to continue and the gradually improving fundamentals of the Russian gas industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.