This is the 1st ACRA rating assigned to the company.
ACRA's credit rating at the highest level of the national scale, along with the Expert RA agency's ruAAA credit rating assigned in December 2020, confirms the maximum creditworthiness of Zarubezhneft.
The Stable outlook assumes with the maximum degree of probability that the rating forecasting for the term of 12-18 months.
Sergey Kudryashov, General Director of Zarubezhneft, said:
Key assessment factors include systemic importance, government influence, operational risk profile, profitability, debt burden, liquidity and cash flow assessment. - The high rating of ACRA once again confirms the stable and successful work of Zarubezhneft in the market
- The company continues active and diversified activities in several countries around the world
Among the sides of the company, especially noted by the agency, are the strong operational risk profile of Zarubezhneft, high geographic diversification, low risks per field, low cost and high sufficiency of the resource base.
The agency also highlighted Zarubezhneft's:
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low debt burden
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high interest coverage
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strong liquidity
The accumulated cash and liquid financial investments, if necessary, make it possible to fully finance dividend payments, capital expenditures and debt repayment within the framework of the company's obligations.
The systemic importance of Zarubezhneft: the company remains a conductor of Russia's interests in the fuel & energy complex on the international arena, in particular, in such strategically important countries as Vietnam and Cuba.
