S&P: Four Russia companies views to negative

Standard & Poor’s said it revised the outlooks on OAO Severstal, Polyus Gold International Ltd. and Eurasia Drilling to negative from stable and affirmed their BB+ ratings.

The agency also said it revised the outlook on Alrosa OJSC to negative from stable and affirmed that company’s BB- and B ratings.

The outlook revisions reflect a view that the companies cannot be rated higher than the ratings on Russia because it generates only one-third of its revenues from exports, S&P said.

Russia’s sovereign ratings were recently downgraded because its monetary policy flexibility has become more limited and its economic growth prospects have weakened, the agency said.

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