Fitch rates Novatek BBB-

Fitch Ratings said it assigned OAO Novatek long-term foreign- and local-currency issuer default ratings of BBB-.

A stable outlook was assigned.

The ratings reflect the company's unique position in the Russian natural gas market as an important incremental producer meeting the domestic natural gas supply gap, Fitch said.

Novatek also benefits from the Russian government's natural gas price liberalization policy that is contributing to rising revenues and profitability, the agency said.

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