Moody's rates TNK-BP eurobond Baa2

Moody's Investors Service said it assigned a provisional rating of Baa2 to TNK-BP's proposed eurobond issue, which is to be placed within the framework of extended $8 billion guaranteed debt issuance program.

The issuer under the program is TNK-BP Finance SA, a wholly owned subsidiary of TNK-BP International Ltd., the agency noted, adding that the rating is based on the irrevocable and unconditional guarantee from TNK-BP International Ltd.

The outlook is stable.

The issue is expected to be used for general corporate purposes, the agency said.

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