OREANDA-NEWS. Standard & Poor's Ratings Services said today it raised its long-term corporate credit rating on Russia-based pipeline operator OAO AK Transneft to 'BBB+' from 'BB+' and removed the rating from CreditWatch, where it had been placed with positive implications on Nov. 15, 2006. This follows a review of the Russian government's influence on government-related companies. The outlook is stable.

"Standard & Poor's has reevaluated the Russian government's ability to enhance both Transneft's stand-alone credit quality and our expectation of extraordinary state support for the company in a distress situation," said
Standard & Poor's credit analyst Rob Richards.

Russia has made the nationalization of its natural resources a higher priority, and has demonstrated an increased willingness to support state-owned companies in the sector, particularly those in the Russian oil and gas sector.