MOSCOW, October 13 (RIA Novosti) - International ratings agency Standard & Poor's announced Thursday that it raised its long-term corporate credit rating for Russian natural gas
monopoly Gazprom to 'BB' from 'BB-' with a stable outlook.
"The current favorable gas price environment is expected to enhance Gazprom's profitability and cash flows in 2005 and beyond. Also, Gazprom has achieved success in optimizing its debt structure through refinancing short-term debt, spreading out maturities and replacing secured debt with unsecured longer-term Eurobonds," the agency said in a press release.
