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Moody’s Upgrades Rosneft’s Subsidiaries to Baa1

27 November 2013

Moscow, November 27 – The Moody’s rating agency has today upgraded to Baa1 from Baa2 the issuer rating of Rosneft International Holdings Limited (formerly TNK-BP International Ltd.) and of its guaranteed subsidiary Rosneft Finance S.A. (former TNK Finance S.A.) under the issue of eurobonds.

The decision to upgrade the rating has been taken after a range of meetings with the company’s top management where the agency’s representatives were briefed on the key parameters of the Rosneft’s medium-term strategy and the successful integration of acquired assets. The company also confirmed its intention to manage debt obligations in due time and in full measure, which is secured by the high level of liquidity.

After this upgrade, the issuer rating of Rosneft International Holdings Limited is at the same level with that of OJSC Oil Company Rosneft. With its decision to upgrade the issuer rating Moody’s has completed the review initiated by the agency on October 24, 2012 after Rosneft announced its intention to acquire 100% of TNK-ВР.

Information Division,
November 27, 2013

Keywords: Moody s Upgrades, Moscow, Rosneft