International rating agency Standard & Poor’s (S&P) revised its outlooks on 13 Russian companies and their subsidiaries to positive following a similar move on Russia, the agency said in a statement.

The list includes Russian rail monopoly RZD (BB+), state-run civil nuclear industry company Atomenergoprom (BB+), Russia’s largest electricity transmission company Federal Grid of the Unified Energy System (BB+), Moscow’s power transmission and distribution company Moscow United Electric Grid (MOESK) (BB-), major electric distribution grid company Interregional Distribution Grid Company of Centre (BB-), energy grid operator Rosseti (BB+), Russia’s second-largest oil producer Lukoil (BBB-), gas giant Gazprom (BB+/BBB-) and its oil subsidiary Gazprom Neft (BB+), state oil company Rosneft (BB+), state-run oil pipeline company Transneft (BB+/BBB-). It also includes telecoms companies, Megafon (BB+) and MTS (BB+).

On March 17, S&P revised its outlook on Russia to positive from stable and affirmed the sovereign credit ratings.

The positive outlook indicates that S&P may raise its ratings if the Russian economy continues to adapt to the relatively low oil price environment while maintaining its strong net external asset position and comparatively low net general government debt burden.