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C.A.T. oil Upgraded To 'BB-' On Strong Performance And Sustained Prudent Financial Policies; Outlook Stable May 11
Standard & Poors, May 2011
Abstract
We have positively revised our assessment of Russia-based oil field services company C.A.T. oil AG's financial risk profile to 'significant'. We are raising the long-term corporate credit rating on the company to 'BB-' from 'B+'. The stable outlook reflects the currently supportive oil industry environment and our expectation that the company will continue to benefit from strong operating cash flows and low leverage. On May 20, 2011, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Russia-based oilfield services company C.A.T. oil AG to 'BB-' from 'B+'. The outlook is stable. At the same time the Russian national scale rating was raised to 'ruAA-' from 'ruA+'. The rating action reflects a decision to revise C.A.T. oil's financial...
Companies mentioned in this report are: C.A.T. oil AG
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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