S&P downgrades Tengizchevroil's rating due to interruptions at Caspian Pipeline Consortium


Standard & Poor's has changed Tengizchevroil's (TCO) rating from BBB- to BB+. S&P explained that the downgrade is due to the risk of disruption of the main export route, the forecast is negative.

TCO exports about 95% of its oil production via the Caspian Pipeline Consortium (CPC) oil pipeline, and the...