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Russian Zarubezhneft was assigned with the highest rating by ACRA

According to ACRA assessment, the company is also highly profitable: for the period from 2018 to 2023 its profitability is 33.9% according to FFO before interest payments and taxes

Russian Zarubezhneft was assigned with the highest rating by ACRA

Moscow, February 22 - Neftegaz.RU. The Analytical Credit Rating Agency (ACRA) has assigned the highest credit rating to Zarubezhneft at the AAA (RU) level with a Stable outlook.
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:
  • 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
Key assessment factors include systemic importance, government influence, operational risk profile, profitability, debt burden, liquidity and cash flow assessment.
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:
  • low debt burden
  • high interest coverage
  • strong liquidity
It estimates the company is increasing its capital investment in already existing projects and buying new ones in the coming years.

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.

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