Moody's Investors Service has upgraded long-term issuer ratings of 12 Russian non-financial corporates to Baa2 from Baa3. The outlooks on all these ratings have been changed to stable from positive.
The companies are Gazprom, Gazprom Neft, Lukoil, Novatek, Transneft, NLMK, Severstal, MMC, Norilsk Nickel, Alrosa, Russian Railways and Federal Passenger Company.
These actions follow a sovereign rating action on the government of Russia which took place on 8 February 2019, during which Moody's upgraded Russia's long-term issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the outlook on these ratings to stable from positive.
Moody's has also assigned Baa3 long-term issuer ratings to four Russian non-financial corporates in the utilities and infrastructure sector - Atomenergoprom, RusHydro, PJSC, ROSSETI and FGC UES. The outlooks on these ratings have been changed to stable from positive.
