S&P lifts Vodokanal to stable

S&P said it revised the outlook on Vodokanal St. Petersburg to stable from negative.

The agency also said it affirmed the BB long-term and B short-term corporate credit ratings, along with the BB issue ratings on the company's senior unsecured debt.

S&P also said it affirmed the company’s ruAA Russia national scale rating.

The outlook revision follows a similar rating action on Russia, S&P explained.

The city of St. Petersburg's credit quality is affected by the sovereign’s ratings and outlook, the agency said, and there is a high likelihood that the city government would provide extraordinary support to the company, if needed.

The company’s stand-alone credit profile remains at BB-.

The stable outlook reflects St. Petersburg's creditworthiness, S&P said.

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