Moody's lifts Gazprom from junk

Moody's Investors Service said it upgraded the issuer rating of OJSC Gazprom to Baa3 from Ba2. At the same time, the rating agency has upgraded the senior unsecured rating on Gazprom's series 2 U.S. dollar loan participation notes from prospective Ba2 to Baa3. The outlook is positive.

Moody's said the rating upgrades conclude a review of Gazprom's credit ratings initiated by Moody's on Sept. 15 following the Russian government's decision to assume a greater than 50% ownership stake in Gazprom by merging the company with OJSC Rosneft.

Moody's said the rating action reflects the company's increasing strategic importance to the Russian economy and the future development of Russia's energy policy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.