Moody’s: credit ratings of Bashneft not to suffer from the acquisition of Burneftegaz

The rating agency Moody's Investors Service has informed that the acquisition of 100% stake in Burneftegaz, which carries out exploration and production of oil in the Tyumen region, by Bashneft is neutral for the company’s credit ratings.

Although this transaction, financed by borrowings, will have a temporary negative impact on the financial performances of the company, they will continue to meet the criteria of Moody 's for this rating category. Moody 's notes that the deal will be favorable in terms of the Bashneft’s production and geographic diversification in the long term perspective.