Fitch: Eurasia Drilling view to positive

Fitch Ratings said it revised Eurasia Drilling Co. Ltd.'s outlook to positive from stable and affirmed the long-term foreign currency issuer default ratings at BB.

Fitch said the positive outlook reflects its expectation that Eurasia Drilling will maintain solid credit metrics and should be free cash flow positive in 2015-2017 as it approaches the end of its investment cycle in the Caspian Sea.

The company has a strong market position and will remain the largest on-shore driller in Russia in the medium-term.

The positive outlook also reflects the favorable business environment as Russian oil & gas companies continue to maintain high drilling volumes to battle natural oil flow declines, the agency said.

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