PARIS (Standard&Poor's) Feb. 11, 2003—Standard&Poor's Rating Services said today that it had taken various ratings actions following an announcement that UK-based oil major BP PLC (BP) and the majority shareholders in TNK International Ltd. (TNK)--Alfa Group and Access-Renova (AAR)--plan to combine their interests in Russia to create the country's third-largest oil and gas business. The 'AA+' long-term corporate credit ratings on BP and related entities were placed on CreditWatch with negative implications. Any potential downgrade would be unlikely to exceed one notch. In addition, all of the 'A-1+' short-term ratings on the BP group were affirmed. At the same time, the 'B+' long-term corporate credit rating on TNK International Ltd., currently Russia's fourth-largest vertically integrated oil
