Fitch assigns TransOil's planned eurobond B rating

Fitch Ratings said it assigned Aragvi Finance International DAC's planned eurobond an expected rating of B(EXP)/RR4.

Fitch also affirmed Aragvi Holding International Ltd.’s (TransOil) foreign currency and local currency long-term issuer default ratings at B with a stable outlook.

The eurobond will be issued by TransOil's 100%-owned subsidiary Aragvi Finance International DAC and used primarily to refinance the existing $300 million eurobond through a tender offer.

The bond's expected rating is in line with TransOil's B IDR, reflecting average recovery prospects in case of default.

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