S&P acts on Russian corporates

S&P said it raised its ratings on nine Russian corporations and affirmed its ratings on three companies following the upgrade of the sovereign on Feb. 23.

The agency upgraded the following ratings by one notch:

• Gazprom PJSC’s foreign currency issuer credit rating was upgraded to BBB-/stable/A-3 and its local currency issuer credit rating was upgraded to BBB/stable/A-2;

• Gazprom Neft PJSC’s issuer credit rating was upgraded to BBB-/stable/-- and its senior unsecured rating was upgraded to BBB-;

• Federal Grid Co. of the Unified Energy System’s issuer credit rating was upgraded to BBB-/stable/-- and its senior unsecured rating was upgraded to BBB-;

• Atomic Energy Power Corp. JSC’s issuer credit rating was upgraded to BBB-/stable/A-3;

• PJSC RusHydro’s issuer credit rating was upgraded to BBB-/stable/A-3 and its senior unsecured rating was upgraded to BBB-;

• PJSC Transneft’s foreign currency issuer-credit rating was upgraded to BBB-/stable/--, its local currency issuer credit rating was raised to BBB/stable/-- and its senior unsecured rating was raised to BBB-;

• Rosseti PJSC’s issuer credit rating was upgraded to BBB-/stable/A-3;

• Russian Railways JSC’s foreign currency issuer credit rating was raised to BBB-/stable/-- and its senior unsecured rating was raised to BBB-; and

• Federal Passenger Co. JSC’s issuer credit rating was raised to BBB-/stable/A-3.

S&P affirmed the following ratings:

• TGC-1 PJSC’s corporate credit rating was affirmed at BB+/positive/B;

• Mosenergo PJSC’s issuer credit rating was affirmed at BB+/positive/--; and

• Oil Co. Rosneft OJSC’s issuer credit rating was affirmed at BB+/positive/-- and its senior unsecured rating was affirmed at BB+.

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