Fitch: Gazprom evolving

Fitch Ratings said it placed OAO Gazprom's BB senior unsecured foreign currency and local currency ratings on Rating Watch evolving following the government's approval of Gazprom's acquisition of state-owned oil company Rosneft.

Fitch said the Rating Watch reflects the uncertainty of the rating impact for Gazprom, with a likely significant increase in leverage balanced by synergies to be gained from the acquisition and an increase of state ownership.

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