S&P lifts Vodokanal, Mosvodokanal views to positive

S&P said it revised the outlooks on Vodokanal St. Petersburg and Mosvodokanal JSC to positive from stable.

The agency also said it affirmed the BB long-term and B short-term corporate credit ratings and ruAA national scale rating on Vodokanal.

S&P also affirmed the BB issue rating on Vodokanal's senior unsecured debt.

The agency also affirmed the BB+ long-term and B short-term corporate credit ratings and ruAA+ national scale ratings on Mosvodokanal.

The outlook revisions follow the March 17 outlook revision on Russia, S&P said.

Vodokanal’s stand-alone credit profile remains at BB as the company will maintain comfortable financial metrics with a debt-to-EBITDA ratio of less than 1.5x at least over the next two years, the agency said.

Also, there is a very high likelihood of extraordinary government support for Vodokanal, S&P said.

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