Moody's: Novatek notes at Baa3

Moody's Investors Service said it assigned a definitive Baa3 rating to the $600 million of loan participation notes due 2016 and $650 million of loan participation notes due 2021 issued by Novatek Finance Ltd. for the purpose of financing loans to OAO Novatek (Baa3/stable).

The rating is in line with the provisional rating assigned on Jan. 18, Moody's said.

The proceeds of the notes will be on-lent to Novatek and will constitute general unsecured and unsubordinated obligations of Novatek.

The notes will rank senior to all present and future subordinated obligations of the company and equal in right of payment to all its present and future unsecured and unsubordinated obligations, the agency said.

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