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Rosneft long-term debt rating upped to 'BB+' vs 'BB' - S&P


Published : Fri, 12 Jan 2007 17:55
By : Agencies
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MOSCOW (AFX) - Standard & Poor's said it has upgraded the long-term debt rating of Russian state oil group Rosneft to 'BB+' from 'BB', citing a belief that the Russian government will strongly support Rosneft in the future.

S&P also noted that the sale of the remaining Yukos assets at auction could impact Rosneft's solvency either positively or negatively in the short- to medium-term.

Yukos, a former giant in the Russian oil sector, went bankrupt last year following manoeuvres widely thought to have been orchestrated by the Kremlin, and has accused Rosneft of illegally buying its chief assets.

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afp/abr/ic

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