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Moody's changes outlook on ANK Bashneft' OAO Ba2 CFR to positive and affirms rating


Thursday, 3 Jul 2014 05:24am EDT 

ANK Bashneft' OAO:Moody's Investors Service has changed to positive from stable the outlook on the Ba2 corporate family rating (CFR) of Bashneft, following robust improvements to the company's business profile alongside a fairly stable financial profile over the past 24 months.Concurrently, Moody's has affirmed the rating.The outlook change reflects Moody's view that Bashneft's business profile has strengthened since the assignment of the rating in 2012, as a result of better upstream asset geographical diversification; refinery production growth; and improvements in the product mix.Moody's positively notes that Bashneft has streamlined its organizational structure and optimized its debt maturity profile.Moody's understands that the company is in the process of defining a longer-term shareholder remuneration policy.The positive outlook reflects the fact that as this clarity develops, further upward pressure on the rating could develop. 

Company Quote

0.02
0.0050 +33.33%
28 Jul 2014