S&P revises outlook for Gazprom, Lukoil, Rosneft, VEB, RZD to negative
LONDON. March 27 (Interfax) - Standard & Poor's Ratings Services has revised its long-term ratings outlook for OJSC Gazprom , OJSC Lukoil , OJSC Rosneft , and OJSC Transneft to negative from stable, the agency said in a press release.
S&P also affirmed its 'BBB' foreign currency long-term corporate credit ratings for the companies.
Additionally, the agency changed its rating for Russian Russian Railways (RZD) . "We are revising our outlook on RZD to negative and affirming our 'BBB' long-term ratings and the 'ruAAA' national scale rating on RZD. The negative outlook on RZD mirrors the negative outlook on the Russian Federation," the company said.
Vnesheconombank's (VEB) outlook was also revised.
"The negative outlooks on Gazprom, Rosneft, Transneft, and Lukoil reflect that on Russia," the agency said.
S&P also improved its rating for OJSC GMC Group, affirming it at 'B' with stable outlook. This occurred because the group was successful at refinancing debt and stabilizing liquidity, which the agency estimates as less than adequate, through three-year lines of credit.
GMC Group produces pumping equipment for the energy, utilities, water and oil and gas industries.