Fitch affirms Gazprom

Fitch Ratings said it affirmed OAO Gazprom's long-term foreign- and local-currency issuer default ratings at BBB, and its senior unsecured rating at BBB and its short-term issuer default rating at F3.

The outlook is negative.

Ratings reflect Gazprom's position as the leading global gas producer, its strong reserve size and long reserve life, the agency said, as well as solid financial profile.

Gazprom also benefits from its ownership of Russia's gas transportation system and its exclusive right to export gas produced in Russia.

Ratings also consider Gazprom's aggressive expansion strategy, the agency noted.

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