OREANDA-NEWS. On 25 August 2008 was announced, that Standard & Poor's Ratings Services removed its long-term 'B-' corporate credit and 'ruBBB' Russia national scale ratings on Kazanorgsintez OJSC from CreditWatch. The removal from CreditWatch reflects the success in obtaining a waiver for its covenants with banks and bondholders and ability of Kazanorgsintez OJSC to obtain further new bank lines to meet finalizing capital expenditures.

Standard & Poor's Ratings Services has also changed rating outlook from “Negative” to “Stable”.