Middle East Economic Survey

VOL. XLVIII

No 43

24-October-2005

IRAN

NIOC Rating Affirmed At BB-, Says Fitch

Fitch Ratings on 13 October affirmed National Iranian Oil Companys (NIOCs) rating at senior unsecured BB- with stable outlook, in line with Irans long-term rating and reflecting the states financial and strategic control on the oil company. Irans fourth five-year development program, running from 1384 (Iranian year starting 21 March 2005), outlines production and development targets for NIOC....