Fitch affirms Novatek

Fitch Ratings said it affirmed OAO Novatek's long-term foreign- and local-currency issuer default ratings at BBB-, along with its senior unsecured ratings at BBB- and national long-term rating and senior unsecured national rating at AA+(rus).

The outlook is stable.

The company's strong business profile, high production growth rate and unique role as a key incremental gas producer in relation to Russia's national energy balance support the current ratings, Fitch said.

It continues to benefit from the government's plan to liberalize the price of natural gas sold on the Russian domestic market by 2014, the agency said.

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