S&P ups The Rompetrol Group view to stable

Standard & Poor's said it revised its outlook on The Rompetrol Group NV to stable from negative.

At the same time, S&P said it affirmed its B- long-term corporate credit rating on Rompetrol.

The outlook revision follows the rejection, by the Bucharest Court of Appeal, of requests by the prosecutor general to place Rompetrol's owners in preventive custody pending possible trial proceedings, as part of an ongoing investigation into the company, the agency noted, adding that it also reflects improved operational performance and corporate governance practices at Rompetrol.

S&P added that the rating remains constrained by the company's considerable refinancing needs, ambitious capital expenditure plans, integration risks following the acquisition of French assets and concentrated refining asset base.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.