- Published: June 2012
- Region: Global
Research Update: Ratings On Russian Independent Gas Producer OAO NOVATEK Raised To 'BB+/ruAA+'; Outlook Stable Jul 08
- Published: July 2008
- Region: Russia
- Standard & Poors
On July 11, 2008, Standard & Poor's Ratings Services raised its long-term corporate credit rating on OAO NOVATEK, Russia's largest independent natural gas producer, to 'BB+' from 'BB'. The outlook is stable. At the same time, the Russia national scale rating on NOVATEK was raised to 'ruAA+' from 'ruAA'. The upgrade reflects NOVATEK's very healthy credit metrics--despite ongoing large growth-oriented capital expenditures--and its high profitability, supported by the improving fundamentals of Russia's gas industry, a profitable condensate business, and efficient low-cost operations. The upgrade also acknowledges NOVATEK's positive track record of cooperation with state-controlled Russian gas giant OAO Gazprom (BBB/Stable/--). In 2007, NOVATEK's EBITDA was Russian ruble (RUR) 29.96 billion, a high 47% margin on sales (RUR11.1 billion and 52%...
Companies mentioned in this report are:
- OAO NOVATEK
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >
- OAO NOVATEK