Moody's cuts Gazprom outlook to stable

Moody's Investors Service said it changed the outlook of OJSC Gazprom to stable from positive reflecting the change in the outlook on the Baa1 rating of the Russian Federation to stable from positive.

The agency said that Gazprom's A3 debt and foreign currency issuer ratings reflect the combination of the following inputs: Gazprom's stand-alone credit risk profile or baseline credit assessment of 11 (on a scale of 1 to 21 and equivalent to Ba1 rating), Baa1 local currency rating of the Russian government, medium dependence and high support.

According to Moody's, Gazprom's rating of A3, together with the support and dependence level, is not affected as a result of this rating action.

Moody's said it previous rating action on Gazprom took place on July 23, when a provisional rating of provisional A3 was assigned to the 18th tranche of the loan participation notes issue launched by Gaz Capital SA, a finance vehicle of Gazprom.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.