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Fitch upgrades Aker BP
Fitch Ratings said it upgraded Aker BP ASA's long-term foreign-currency issuer default rating and senior unsecured rating to BBB from BBB- following the company's acquisition of Lundin Energy AB's petroleum assets.
“The upgrade reflects Aker BP's enlarged size post-acquisition, improved diversification by asset, an adequate reserve life, a strong pipeline of new projects, including the North of Alvheim Krafla Askja (Noaka) project, and a conservative financial profile,” Fitch said in a press release.
The outlook is stable.
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