S&P ups Mosvodokanal, Vodokanal

S&P said it raised its long- and short-term issuer credit ratings on Mosvodokanal JSC to BBB-/A-3 from BB+/B.

At the same time, the agency raised its long-term issuer credit rating on Vodokanal St. Petersburg to BB+ from BB and affirmed the B short-term rating.

The outlooks are stable.

The actions follow the upgrade of Russia on Feb. 23.

The agency said the upgrades reflect that the utilities are considered to be government-related entities of Moscow and St. Petersburg, respectively, and S&P considers that the cities' ability to provide their respective utilities with support has improved.

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