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LONDON, October 25 (Itar-Tass) — Standard & Poors has put Russia’s Rosneft and TNK-BK companies on CreditWatch with positive implications, according to materials circulated by the international credit rating agency on financial markets on Wednesday evening.
The rating actions affected long credit rating of Rosneft, which currently remains at BBB- and long-term BBB- and short-term (A-3) indicators for TNK-BP.
Rosneft’s rating has been so far on the list for review for possible downgrade, but S & P has taken action in view of the planned acquisition by the Russian state-run company of a 100-percent stake in TNK-BP from BP and AAR Group.
On Wednesday, two other rating agencies of the so-called Big Three – Fitch and Moody’s put the ratings of these companies for review with a possible downgrade. Both agencies also referred to the Rosneft-BP-AAR deal.
On Monday, Rosneft announced the signing of an agreement on the main terms of the deal with BP to acquire a 50-percent stake in TNK-BP in exchange for 17.1 billion US dollars in cash and 12.84 percent of Rosneft shares.
Rosneft also agreed upon the basic terms of the transaction to acquire a 50-percent share of AAR in TNK-BP for 28 billion US dollars under certain conditions.