Bashneft -- Moody's: Bashneft's acquisition of Burneftegaz credit neutral

London, 08 April 2014 -- Moody's Investors Service has today said that the acquisition of 100% of LLC Burneftegaz, an exploration and production company operating in the Tyumen District, by Bashneft (Ba2 stable) is credit neutral for Bashneft's ratings. Although the transaction, which was debt-funded, will have a temporary adverse effect on the company's financial metrics, these will remain consistent with Moody's guidance for the current rating category. Moody's notes that the transaction will benefit Bashneft's upstream profile and geographic diversification in the long term.

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