OREANDA-NEWS. June 20, 2014. Fitch Ratings announced that it has upgraded Tatneft’s Long-term Issuer Default Rating (IDR) to “BBB-“, the rating outlook is Stable. 

According to Fitch Ratings, the upgrade reflects Tatneft’s improved business and financial profile following the commissioning and subsequent development of the Taneco refinery complex, and is based on the agency’s expectations of Tatneft maintaining stable oil production and favorable leverage metrics, even if the company decides to increase Taneco’s capacity to 14 million tonnes per annum.

Now, following the upgrade from Fitch Ratings and a decision of Moody’s Investor Services in November of 2013 to assign Tatneft “Baa3” credit rating, the company now carries investment grade ratings from two major agencies.