Moody's changes Rosneft outlook to stable

Moody's Investors Service said it changed the outlook on the Baa1 ratings of OJSC Oil Co. Rosneft and its subsidiary Rosneft International Holdings Ltd. to stable from negative and affirmed the ratings.

The agency said the rating action reflects the strengthening of Rosneft's and Rosneft International's liquidity profiles in recent months and the increased visibility regarding the likely evolution of the group's forward-looking financial profile. Moody's considers the group to be adequately positioned in its rating category and does not expect its operating and/or credit metrics to deteriorate in the medium term.

The Baa1 ratings are supported by Rosneft's strong business profile as the world's largest public oil company in terms of reserves and production, Moody's said.

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