Moody’s: Credit Rating on 18 Russian Non-Financial Organizations ‘Stable’

The credit rating on 18 Russian non-financial corporations and their family entities has been upgraded to stable from the previous negative watch, Moody’s announced in a press release on Friday.

WASHINGTON (Sputnik) — The revised credit outlook was based on "the stabilization of Russia's external finances and the diminished likelihood of the Russian economy or finances facing a further intense shock in the next 12-18 months," Moody’s explained.

The changes to the non-financial corporations’ decision followed Moody’s upgrade of Russian sovereign debt from negative to stable on Thursday.

Moody’s further attributes Russia’s stabilization to a macroeconomic adjustment to offset the impact of low oil prices, and the "diminished likelihood" of future international sanctions or worsening conflict in eastern Ukraine.

Corporations impacted by the credit rating include Gazprom ECP SA, Russian Railways JSC, Russian Helicopters JSC, PAO Severstal, Lukoil International Finance BV and others.