Tatneft Reverses Declines After Fitch Ratings Upgrade to BB+
OAO Tatneft (TATN) jumped, reversing a loss, after Fitch Ratings raised the Russian oil producer’s rating.
Tatneft added 0.5 percent to 186.17 rubles by 3:15 p.m. in Moscow, heading for the highest level since April 10.
Fitch raised Tatneft to BB+, its highest non-investment level, from BB, citing progress in construction of the Taneco refinery, “conservative” spending and “expected gradual deleveraging,” in an e-mailed note.
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