Fitch has improved to stable the Outlook on the ratings of 14 Russian companies

MOSCOW, 20 Oct — RIA Novosti/Prime. International rating Agency Fitch improved the forecast on ratings of 14 major Russian companies from negative to stable, said the Agency.

These companies include: Atomenergoprom, Gazprom, “Gazprom Neft”, “LUKOIL”, “NOVATEK” Russian Railways “Federal passenger company” (FPC), “Rossetti”, “Rostelecom”, “Sukhoi Civil aircraft”, “Tatneft”, “inter RAO”, “Severstal” and NLMK.

“The rating action follows the similar action on the sovereign rating of Russia”, — stated in the message.

In particular, the Agency affirmed long-term Issuer default rating (IDR) in foreign currency of “Gazprom” at level “BBB-“. Fitch notes that the company’s ratings are limited by the sovereign rating of Russia, taking into account the influence the state has on “Gazprom” as a key shareholder, but also through the tax system. Long-term IDR in foreign currency “Gazprom oil” also is confirmed at level “BBB-“. It is limited by the rating of “Gazprom” and the sovereign rating of Russia due to the concentration of the company’s assets in the country.

In addition, Fitch affirms long-term IDR in foreign currency of Russian Railways at ‘ BBB -‘. Ratings of Russian Railways continue to be linked with the sovereign rating of Russia. Fitch also affirmed long-term IDR in foreign currency “Severstal” and NLMK on the level of “BBB-“. Ratings of companies based on their level of creditworthiness.

Fitch in mid-October have improved the forecast on long-term Issuer default rating (IDR) of Russia in national and foreign currency from negative to stable, Reaffirming the rating at “BBB-“.