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Fitch rating agency raised the long-term rating of OJSC “Nizhnekamskneftekhim”

  International rating agency Fitch has confirmed its rating of OJSC “Nizhnekamskneftekhim”: long-term Issuer Default Rating (IDR) at “B+”, senior unsecured rating at “B+” and short-term IDR at “B”. National long-term rating is confirmed at “A(rus)” (Russian credit rating scale). The long-term rating outlook is changed from “Stable” to “Positive”. This change reflects the Fitch’s expectations that “Nizhnekamskneftekhim” will succeed in the realization of its capital investments program for USD 889 mln for 2006-2010.

The above-mentioned program includes an improvement of integration, and saving on enlarging and developing additional processing of semi-finished production to received such finished products as plastics, synthetic rubbers, etc. The already completed projects include a new polypropylene plant with 180 th tpa capacity, a power plant (GTU-75), and the upgrade of the existing polystyrene and halobutyl rubbers production facilities.

The OJSC “Nizhnekamskneftekhim” ratings receive the support from the Company’s position as one of the Russian largest petrochemicals producers, especially its leading position in production of particular products; the geographical diversification of revenues and good profits.


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