S & P improved the outlook on the "Russneft" "B" rating to positive from stable.

The international rating agency Standard & Poor's affirmed the long-term credit rating of "Russneft" at "B" and improved the rating outlook to positive from stable, according to a press release from the agency.

The company rating on the national scale rose to "ruA" from "ruA-".

"The outlook revision reflects our view that if "Russneft" successfully converts the debt to Glencore Xstrata Plc of approximately $ 0.9 billion in equity, resulting in Glencore becoming a shareholder and holding a deal to merge with "Nephthys"’s sister company the "Russneft" ratings can be increased", - the release stated, RIA "Novosti" informs.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer