Fitch rates Gazprom notes BBB-

Fitch Ratings said it assigned final BBB- ratings to Gaz Capital SA's €500 million notes due 2007 and $1.35 billion notes due 2016, which are the sixth and seventh tranches issued under the company's $15 billion loan participation note program.

The program relies on the senior unsecured liability of Russia-based OAO Gazprom for repayment, which has BBB- local- and foreign-currency issuer default ratings and a stable outlook.

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