Rosneft exceeds permissible volume of attracted credits

Rosneft has exceeded the volume of credit obligations stipulated in the provisions of its Eurobond issue by almost $50m. According to financial provisions of the $150m Eurobond issue at the end of 2001, the volume of the company's debts must not exceed $1.25bn.

However, according to Troyka Dialog analysts, the volume of the company's debts amounted to 1.3bn at the end of 2002.

Rosneft refused to comment on this information.

As reported earlier, Standard & Poor's changed the forecast for Rosneft's rating from positive to negative.

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