Russian oil company Rosneft OJSC upgraded to 'BBB'

17.04.2013 12:19
Russian oil company Rosneft OJSC upgraded to 'BBB'

YEREVAN, April 17. /ARKA/. Russian state-owned Oil Company Rosneft OJSC (Rosneft) has completed the acquisition of TNK-BP International Ltd. for $44.4 billion in cash and 12.84% of its treasury stock. S&P now assesses Rosneft's business risk profile as "satisfactory," its financial risk profile as "aggressive," and the likelihood of extraordinary support from the Russian government to the company as "very high." S&P raised its rating on Rosneft to 'BBB' from 'BBB-' and removed it from CreditWatch positive. The stable outlook reflects the expectation that the company will refinance its very large bridge financing and not further increase its Standard&Poor's-adjusted debt through shareholder payouts or additional investments, according to AlacraStore. –0--

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