RusEnergy

MOSCOW, January 24 (RIA Novosti) - International ratings agency Moody's has changed the outlook of Russian oil company LUKoil's Ba1 Corporate Family Rating and Ba2 Issuer Rating to positive from stable, the agency said in a statement Tuesday. "The change in outlook to positive reflects LUKoil's ongoing strong financial performance, as evidenced in its recent results for the first 9 months of 2005, assisted both by higher crude and product price realizations and greater operational efficiency and Moody's view of the moderate improvement in Russia's operating environment as far as private enterprise is concerned, following the state's assumption of a greater role in core strategic industries. "Moody's also emphasizes the ongoing improvements that LUKOIL has made in improving its corporate governance and financial transparency standards, which rank amongst the strongest in Russia," the agency said.