S&P: Rosneft unaffected

Standard & Poor's said its ratings and outlook on OJSC Rosneft (B+/positive) are unaffected by the company's announcement that it is to acquire a 51% stake in Udmurneft from China Petroleum & Chemical Corp. (BBB/stable).

S&P said that Rosneft's highly acquisitive growth strategy is already factored into the ratings, adding that the group expects to finance the Udmurneft acquisition with debt and plans to structure the financing of the transaction so as to avoid recourse against the parent.

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