The end of a bitter shareholder dispute and final agreement on a new chief executive have prompted Fitch ratings agency to improve the rating of TNK-BP. The agency said Monday it has changed the Russian-UK joint venture's rating to stable from negative and reaffirmed its BBB- long-term default rating in both foreign and national currencies, and its unsecured rating in foreign currency. Fitch placed Russia's third-largest producer on rating watch negative last year after a dispute between its Russian and British shareholders, the Alfa-Access-Renova (AAR) consortium and BP.
展开▼
