S&P Global Ratings (“S&P”) revises outlook to positive from stable and affirms Zenith Pure Oil’s credit rating at ’BBB-’
S&P revised the outlook to positive from stable, while affirming its 'BBB-' long-term credit rating on Zenith Pure Oil.
Zenith Pure Oil Plc. (“Zenith Pure Oil”) hereby notifies the market of the following:
S&P revised the outlook to positive from stable, while affirming its 'BBB-' long-term credit rating on Zenith Pure Oil.
The positive outlook indicates that the earlier announced acquisition of 9.57% stake in Azerbaijan’s ACG oil field and 8.9% in the BTC pipeline, expected to close in second-quarter 2020 subject to government and regulatory approvals, will strengthen Zenith Pure Oil’s business profile despite increasing leverage.