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S&P ups Novatek outlook to positive
Standard & Poor's said it revised its outlook on OAO Novatek to positive from stable, following a review of the company's financial and operating performance.
At the same time, the BB- long-term corporate credit and ruAA- Russia national-scale ratings on Novatek were affirmed, the agency said.
S&P added that the outlook revision reflects the positive trends visible in Novatek's favorable financial metrics, with no net debt and strong profitability, impressive organic production growth that is set to continue and the gradually improving fundamentals of the Russian gas industry.
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