International rating agency Standard&Poor’s (S&P) has changes its outlook on ratings of 16 Russian companies from “negative” to “stable,” the agency said in a press release.

The list includes such companies as NLMK, Novatek, Gazprom, Russian Railways, Transneft, Lukoil, Rostelecom, Mosenergo, MTS, United Energy Company, Sovcomflot, Magnit, FPC, Rosseti, Severstal.

The agency also confirmed the companies’ credit rating in national currency at “BB+” expect for Transneft, Lukoil, Gazprom, Russian Railway, NLMK and Severstal. Their rating was confirmed at “BBB-“.

The rating in foreign currency of most of the companies was confirmed at “BB+”. The agency confirmed foreign currency credit rating of Lukoil, NLMK and Severstal at “BBB-“.

The change in the companies’ ratings followed the raise of Russia’s sovereign credit rating to “stable” from “negative,” S&P said in the press release.