Fitch rates Nizhnekamskneftekhim

Fitch Ratings said it assigned OAO Nizhnekamskneftekhim (NKNK) ratings of senior unsecured B+ and short-term B.

The agency has also assigned NKNK a national long-term rating of A(rus). The outlook is stable.

NKNK is based in the Republic of Tatarstan, which is rated International long-term foreign and local currency BB with stable outlook and short-term B. The Republic of Tatarstan has a national long-term AA(rus) rating with stable outlook, the agency noted.

The ratings reflect NKNK's position as the largest petrochemicals producer in Russia, leadership in select products, balanced geographic revenue diversification and adequate profitability, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.