Moody's Left Unchanged the Credit Rating of Oil Company Rosneft
Moody’s analysts explain their decision by the fact that Rosneft has a strong business profile. High profitability and competitiveness in various scenarios in the oil market of the company is ensured by low production costs.
In addition, Moody’s cites the declining debt burden as an important factor in Rosneft’s investment attractiveness. Thus, according to the agency's calculations, the debt burden of NK has decreased 1.7 times over a year and a half. Moody's expects a further decrease in the debt burden in 2021-2022, since, according to the agency, the oil company's sources of liquidity will be sufficient to cover upcoming debt repayments, capital investments and dividend payments.
On Tuesday, October 26, the capitalization of Rosneft on the London Stock Exchange for the first time since 2011 exceeded $ 100 billion. On the Moscow Exchange, NK shares reached a new all-time high and rose to RUB 665.7, capitalization exceeded RUB 7 trillion for the first time in history.