S&P rates Lukoil notes BBB

S&P said it assigned its BBB long-term issue rating to the proposed dollar-denominated senior unsecured notes to be issued by Lukoil Securities BV, a fully owned financing subsidiary of Lukoil PJSC. The parent will guarantee the proposed notes.

Lukoil intends to use the proceeds for general corporate purposes.

“The BBB issue rating on Lukoil's senior unsecured debt is in line with our issuer credit rating on Lukoil PJSC, since there are no significant financial or trade obligations that represent material subordination risk in the capital structure,” the agency said in a press release.

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