S&P affirms Novatek

Standard & Poor's said that it affirmed OAO Novatek's BBB- long-term issuer credit rating and ruAA+ Russia national scale rating. At the same time, the ratings were removed from CreditWatch, where they were placed with negative implications on Oct. 28.

The outlook is negative.

The affirmation reflects Novatek's intermediate financial risk profile, and the negative outlook reflects the expectation that headroom under the rating category will be limited, S&P said.

The debt-to-EBITDA ratio was 0.6 times as of Sept. 30.

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