Baku/14.10.21/Turan: Fitch Ratings has raised the long-term issuer default rating (IDR) of (Petkim) from B to B + with a stable outlook, Fitch reports.“The upgrade reflects our expectation of significant progress in reducing the holding's credit burden following the repayment of about USD 200-300 million in debt in 2021 and the subsequent payment of a contribution of USD 240 million for an 18% stake in STAR refinery in the first quarter of 2022",...

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