PJSC Tatneft. Annual report 2017
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PJSC Tatneft. Annual report 2017

The status of the Company

RATINGS

INCREASE CREDIT RATING

On February 21, 2017, the international rating agency Moody’s Investors Services changed the credit rating to Corporate credit rating—Ва1. The default probability rating is Ba1-PD, and the outlook is «stable» (having been changed from «negative» to «stable»).

On January 29, 2018, the credit rating agency Moody’s announced an upgrade of TATNEFT credit rating to Baa3 with a positive outlook. Moody’s decision is connected with a change in the outlook for the credit rating of the Russian Federation and an increase in the «country ceiling» from Ba1 to Baa3.

THE BAA3 CREDIT RATING REFERS TO THE INVESTMENT LEVEL AND REFLECTS THE HIGH QUALITY OF THE COMPANY’S CREDIT.

On October 31, 2017, Fitch Ratings, an international credit rating agency, confirmed the long-term and short-term issuer default ratings of the Company (IDR) at the level of ВВВ- and F3, respectively. The outlook for long-term IDR is stable.

According to Fitch Ratings, the credit rating confirmation also reflects TATNEFT's strong financial position after the commissioning and further development of the TANECO refinery, and the creditworthiness of the Company is maintained by the low level of debt with adjusted gross debt in relation to the cash flow from operating activities at the level of 0.1x at the end of 2015 and 2016, which is the lowest among comparable Russian oil and gas companies to which the agency assigns a credit rating.
TATNEFT COMPANY IS INCLUDED IN THE CREDIT RATING OF EXPERT RA

On July 19, 2017, Joint-Stock Company Rating Agency Expert RA for the first time assigned a credit rating to a nonfinancial company. The value of the assigned rating is ru AAA according to the national scale for the Russian Federation; the outlook is stable.

TATNEFT COMPANY IS INCLUDED IN THE INDEX OF RESPONSIBLE INVESTMENT EVALUATION FTSE4GOOD EMERGING INDEX

Tatneft has become part of the FTSE4GOOD Emerging Index (FTSE4Good emerging markets index) , which is part of the FTSE4GOOD index series. Created by global developer of the FTSE Russell indexes, the FTSE4GOOD series of indices is designed to assess the performance of companies that demonstrate adherence to best practices in environmental protection, social responsibility and corporate governance (ESG). FTSE4GOOD indices are used by various market participants to create and evaluate performance of responsible investment funds and other products that take into account relevant factors.

TATNEFT COMPANY INCORPORATED THE RATING OF THE FUNDAMENTAL EFFICACY OF THE ENVIRONMENTAL ENERGY RATING AGENCY INTERFAX – ERA

The rating is based on an assessment of 5,500 enterprises of the real sector of the Russian economy in terms of energy-resource, technological and ecosystem efficiency. The company is among the 150 largest companies in the real sector of Russia at the end of 2017 in the first group with one of the highest levels of transparency of the disclosed indicators according to the Interfax-ERA rating agency.

THE COMPANY "TATNEFT" IS INCLUDED IN THE GROUP OF LEADERS OF THE RSPP INDICES IN THE FIELD OF SUSTAINABLE DEVELOPMENT "RESPONSIBILITY AND OPENNESS"

The Responsibility and Openness Index reflects the level of disclosure of information on sustainable development (SD) and CSR in public corporate reporting, assessing how the structure, volume and quality of this information reflect the impact of companies on the social and natural environment. Issuers whose securities were included in the leading group of the Responsibility and Openness Index reveal the most complete information on activities in the field of sustainable development and corporate social responsibility.