OREANDA-NEWS. Fitch Ratings has today placed OC OJSC Rosneft's foreign and local currency Issuer Default ratings of 'BB+' on Rating Watch Positive ("RWP") following the company's announcement of strong financial results for the first nine months of 2006.

The Rating Watch is also supported by Fitch's expectations that Rosneft will further enhance both its downstream integration and upstream oil and gas production in 2007.

In addition, Fitch expects the company to favourably resolve issues concerning its relatively high debt levels which will positively influence its leverage and coverage ratios over the coming year.