S&P cuts Rompetrol to B+

Standard & Poor's said it lowered the long-term corporate credit rating on Rompetrol Group NV to B

from B+ and placed the rating on CreditWatch with negative implications.

The downgrade reflects concerns about the increased country and political risks between the company and the Romanian government, S&P said, as well as continued weak operating performance.

The agency added that the current unfavorable refining fundamentals create another layer of uncertainty.

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