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Gazprom Raiting Cut by Moody's

Moody's Investors Service cut Gazprom's debt rating one level to Baa1

Gazprom's raiting was cut by Moody's Friday to the third-lowest investment grade to match Russia's sovereign rating.
Moody's said in a statement that it no longer believes it is appropriate to assign a rating to Gazprom higher than that of the Russian Federation's rating of Baa1.

«Movements in oil and gas prices and changes in the health of the Russian economy are factors similarly impacting the fortunes of both parties," it was announced.
Any change in Russia's rating would lead to a similar change in Gazprom's, Moody's said. The outlook for both Russia and the gas export monopoly is stable.


Author: Ksenia Kocheva

Source : Bloomberg