7th Jul 2011 09:40
S&P REVISES OUTLOOK FOR NOVATEK TO STABLE
Moscow, 7 July 2011. OAO NOVATEK (NOVATEK and/or the Company) announced today that Standard & Poor's (S&P) has revised its outlook for the Company to stable from negative and reaffirmed NOVATEK's BBB- long-term issuer and ruAA+ Russia national scale ratings.
The revision in the outlook was based on the Company's strong credit ratios primarily due to strong operational cash flows resulting from production growth and higher prices.
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For further information, please visit www.novatek.ru or contact:
| Press Service | Investor Relations | |
| +7 (495) 721 2207 | +7 (495) 730 6013 | |
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OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 83% of Russia's natural gas production and 16% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed on the Russian Trading System (RTS), MICEX Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK" and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol "NVATY".
Copyright Business Wire 2011
Related Shares:
NVTK.L