OREANDA-NEWS. On August 22, 2007 the international ratings agency Standard & Poor’s has confirmed the long-term rating of TNK-BP International Ltd. (TNK-BP) at the “BB+” level and its short-term rating at the “B” level.  The rating projection is “stable”, reported the press-centre of TNK-BP.

Standard & Poor’s announced that TNK-BP’s long-term credit rating has risen from “BB” to “BB+” in July 2006.  The projection was “stable.”  At the same time, Standard & Poor’s confirmed the group’s short-term credit rating at the “B” level. 

The stable projection assumes maintenance of TNK-BP’s competitive expenditures even in case of a normalized price scenario and reflects the agency’s expectations that the relation of the operating cash flow to net debt will remain higher than 50 percent (168 percent in 2005), and that the group will be capable of financing most of its growing capital investment program with the cash flow generated by its own activity.