Fitch rates Novatek bonds BBB-

Fitch Ratings said it assigned an expected BBB- local-currency senior unsecured rating and an expected AA+(rus) national senior unsecured rating to OAO Novatek's RUB 10 billion domestic stock exchange bonds due 2013.

The agency also assigned an AA+(rus) national long-term rating to the company, which already carries BBB- long-term foreign- and local-currency issuer default ratings and a BBB- foreign-currency senior unsecured rating.

The outlook is stable.

The company's ratings are supported by its strong business profile stemming from a high production growth rate, its unique role as a key incremental gas producer in Russia and strong credit metrics, Fitch said.

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