Fitch rates Gaz Capital loan BBB-

Fitch Ratings said it assigned Gaz Capital SA's proposed loan participation notes issue an expected BBB- rating.

The agency said that the notes will be issued in one or more series nominated in Japanese yen and will be used to finance one or more loans to OAO Gazprom (long-term issuer default rating: BBB-/positive).

The noteholders will rely solely on Gazprom's credit and financial standing for the payment obligations under the notes, Fitch added.

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