Sibneft, perhaps a new Lukoil Message Board

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Gold/Mining/Energy : Sibneft, perhaps a new Lukoil

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From: Copperfield	1/17/2006 5:28:21 AM
	of 13

S&P upgrades Sibneft rating to BB ............................................ 20:56 \| 16/ 01/ 2006 MOSCOW, January 16 (RIA Novosti) - International ratings agency Standard and Poor's announced on its website Monday that it has upgraded Russian oil major Sibneft's rating to BB from BB- with a positive outlook after raising Sibneft majority shareholder Gazprom's grade to BB+ from BB. S&P Credit Analyst Yelena Anankina called Sibneft "Gazprom's strategic asset in the oil sector". "The company would also likely be considered a material subsidiary under the terms of Gazprom's medium-term notes program, and hence would be subject to cross default, thereby increasing Gazprom's economic incentive to support it," the website quoted Anankina as saying.

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