[MLT] Russian Oil Company TNK-BP 'BBB-' Rating Put On CreditWatch Positive On Potential Acquisition By Rosneft Oct 12
- Language: English
- Published: October 2012
- Region: Russia
On May 12, 2006, Standard & Poor's Ratings Services placed on CreditWatch with positive implications its 'BB' long-term corporate credit rating on Russian oil major TNK-BP International Ltd. (TNK-BP). At the same time, Standard & Poor's affirmed its 'B' short-term rating on the company. The rating action reflects the possibility of a maximum one-notch upgrade in the coming months. Any upgrade will depend on the group's sustained ability to deal with Russian operational risks. These include the handling of remaining 2002 and 2003 back tax claims, which should be manageable given TNK-BP's current very strong financial position. We will also seek further confirmation on the group's continued ability to extend existing licenses and successfully bid for new ones, and develop...
Companies mentioned in this report are: TNK-BP International Ltd.,BP PLC,TNK-BP Ltd.,TNK-BP Finance S.A.
Action: On CreditWatch:Positive
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
TNK-BP International Ltd.,BP PLC,TNK-BP Ltd.,TNK-BP Finance S.A.