S&P ups Yamal-Nenets view to positive

Standard & Poor's said it revised its outlook on the Yamal-Nenets Autonomous Okrug in Russia to positive from stable. The BB+ long-term issuer credit rating and ruAA+ Russia national scale rating were affirmed.

The outlook revision reflects the company's solid budgetary performance, excellent liquidity and commitment to zero direct debt, S&P said.

The okrug's high dependence on its major taxpayer, OAO Gazprom, limited revenue predictability and uncertainties about its institutional status constrain the ratings, the agency said.

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