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Fitch lifts Rompetrol
Fitch Ratings said it upgraded the Rompetrol Group NV's long-term foreign-currency issuer default rating to B+ from B.
The outlook has been revised to stable from negative.
Fitch said the upgrade reflects the company's improved standalone financial profile and liquidity position following a cash injection of $1 billion from the company's sole shareholder, KazMunaiGaz National Co.
The cash injection also should help mitigate the negative impact of the company's weaker cash flow in 2009, the agency said.
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