Fitch affirms TNK-BP

Fitch Ratings said it affirmed TNK-BP International Ltd.'s long-term foreign- and local-currency issuer default ratings at BBB- and short-term foreign-currency issuer default rating at F3.

Fitch also affirmed TNK-BP Finance's senior unsecured rating at BBB- and short-term rating at F3.

The outlook is stable.

The company's demonstrated ability to implement key projects in a timely fashion and the increasing share of greenfield production over time is beneficial to its business profile, Fitch said.

TNK-BP also should benefit from the government's plan to liberalize the price of natural gas sold on the Russian domestic market by 2014, the agency said.

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