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Published on 9/8/2009 in the Prospect News Emerging Markets Daily.

Moody's rates Gazprom program Prime-2

Moody's Investors Service said it has assigned a Prime-2 short-term corporate rating to a $4 billion commercial paper program to be launched by Gazprom ECP SA and unconditionally and irrevocably guaranteed by OJSC Gazprom.

The outlook is stable.

The P2 rating assigned to the program is in line with Gazprom's P2 short-term rating assigned by Moody's on July 31, the agency said.

It also corresponds to the company's Baa1 issuer rating, and reflects Moody's assessment of Gazprom's current and projected short-term liquidity position, the agency noted.


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