Moody's upgrades CNOOC

PUBLISHED : Saturday, 12 January, 2002, 12:00am
UPDATED : Saturday, 12 January, 2002, 12:00am


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Rating agency Moody's Investors Service has upgraded the outlook of China's largest offshore oil producer CNOOC and its parent China National Offshore Oil Corp's current issuer Baa2 rating from stable to positive. Moody's said the rating reflected its growing expectation that regulators in China were not likely to implement policy changes that would substantially weaken their strong credit fundamentals.