Rosneft Finance S.A. -- Moody's: Rosneft's agreement with SIBUR on Yugragazpererabotka is credit positive

London, 18 March 2014 -- Moody's Investors Service has today said that it views as credit positive for OJSC Oil Company Rosneft (Baa1 stable) the announcement that it had agreed to sell its 49% stake in the joint venture OOO Yugragazpererabotka (YGPP, not rated) to OJSC SIBUR Holding (SIBUR, Ba1 stable), thus increasing SIBUR's stake in YGPP to 100%. The transaction involves the renegotiation of volume and pricing arrangements for associated petroleum gas (APG), natural gas liquids (NGL) and dry gas supplied by Rosneft to YGPP. The positive effect on the ratings is moderated by the modest scale of the transaction relative to Rosneft's revenue base.

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