Fitch Ratings affirmed Tatarstan-based chemical producer Nizhnekamskneftekhim's (NKNK) Long-term foreign currency Issuer Default Rating (IDR) at 'B+', with a stable outlook, the rating agency informed.
The agency has simultaneously withdrawn all the ratings.
"NKNK has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for NKNK," Fitch points out.
Nizhnekamskneftekhim (tax number: 1651000010) is one of the largest petrochemical complexes of Eastern Europe. It produces a diverse range of goods comprising over 120 types of chemical and petrochemical substances, the most important of them being synthetic rubbers and styrene. In 2012, the company rubber production by 5.4% to 589 thousand tonnes, production of plastics by 2.1% to 605 thousand tonnes.
The authorized capital of NKNH is RUB 1.83 billion, 1,611,256 thousand common shares (88.04% of the authorized capital) and 218,983.75 thousand preferred shares (11.96%) at par value of 1 ruble are issued.
IFRS net profit of the company for 2012 decreased by 3.6% to RUB 15.277 billion. Revenue grew by 3.5% to RUB 130.487 billion, EBITDA decreased by 5.8% to RUB 22.781 billion.
According to the information and retrieval system DataCapital, RAS net profit of Nizhnekamskneftekhim for 2012 grew by 18% to RUB 16.954 billion from RUB 14.414 billion. Revenue increased by 2% to RUB 125.247 billion from RUB 122.699 billion, GP to RUB 28.463 billion from RUB 27.652 billion.
"AK&M", 16.08.2013 14:48