- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Fitch rates LUKoil notes issue BBB-

Subscribe
MOSCOW, May 29 (RIA Novosti) - Fitch Ratings Tuesday assigned the forthcoming notes issue of LUKoil [RTS: LKOH] an expected rating of 'BBB-' (BBB minus). The final rating is contingent upon the receipt of final documents, the agency said.

The announcement of plans for a first note issue in the past four years comes after LUKoil head Vagit Alekperov vowed to raise $500 million in notes this year. The current 2002 $55-million notes issue will mature in November.

LUKoil is a vertically integrated oil company based in Moscow, with upstream operations concentrated in western Siberia. It accounts for roughly 1.3% of world oil reserves, about 2.1% of world production, and 18% of production and refining in Russia.

Outside Russia, LUKoil has three refineries in Europe and runs a network of nearly 800 gas stations in the U.S., bought last year from ConocoPhillips, which holds a 20-% stake in LUKoil.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала