Fitch lifts Gazprom from junk

Fitch Ratings said it upgraded OAO Gazprom's foreign currency and local currency issuer default ratings and its senior unsecured rating on $5.7 billion of rated debt to BBB- from BB+.

The outlook remains stable.

Fitch said the upgrade reflects improving prospects for the company's business profile, on the back of strengthening financial results and signs of further state support through the legalization of the company's monopoly export status.

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