Fitch Ratings revises Rompetrol’s outlook to negative

Fitch Ratings revised Rompetrol’s outlook to negative from stable, on weak operating cash flow and profitability in first nine months of 2008. The financial rating agency has also affirmed rating for long term foreign currency issuer default at ‘B+’.The outlook revision for the group is due to the low operating cash flow and profit margins reported for first nine months this year, high financial leverage, tight interest coverage and high short-term refinancing risks, in the context of ...

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