Moody's lifts Gazprom to 10

Moody's Investors Service said it raised the baseline credit assessment of OJSC Gazprom to 10 from 11.

The 10 rating is equivalent to a Baa3 rating, the agency said.

Moody's also said it affirmed the company's issuer rating at Baa1 with a stable outlook.

Its senior unsecured issuer and debt ratings are unaffected, given the already assumed high level of support for the Russian state-controlled company, the agency said.

Gazprom is regarded as a government-related issuer and its ratings take into account an assessment of a high level of implied state support and dependence, Moody's said.

Moody's said its decision to raise the baseline credit assessment primarily reflects the company's strengthened fundamental credit profile and proven resilience to the challenging global economic environment.

Gazprom has a consistent track record of strong operational and financial performance, the agency said.

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