Fitch rates Gazprom F3

Fitch Ratings said it assigned OAO Gazprom a short-term foreign-currency issuer default rating of F3. Its long-term foreign- and local-currency issuer default rating is BBB and its senior unsecured rating is BBB. Gaz Capital SA's debt issuance program is rated BBB.

The outlook is negative.

Fitch said it considers Gazprom's liquidity position to be adequate.

The agency said it believes that the group's financial flexibility also is underpinned by its easy access to funding from Russian state-related banks.

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