S&P: Agency for Housing view to negative

Standard & Poor's said it revised the outlook on the Agency for Housing Mortgage Lending OJSC to negative from stable.

The agency also said it affirmed the company's BBB long-term and A-2 short-term issuer credit and ruAAA Russia national scale ratings.

The outlook revision follows a similar recent action on the Russian Federation.

The agency said there is a very high likelihood that the Russian government would provide timely and sufficient extraordinary support to the company in case of need.

This is based on its very important role and very strong link with Russia, S&P said.

The ratings also consider the company's adequate risk position, average funding and adequate liquidity, the agency said.

The ratings are constrained by the company's high-risk concentrations in the residential real estate sector, high political risk and moderate earnings capacity, S&P said.

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