Wednesday, April 8, 2009

Fitch has confirmed Gazprom "rating" BBB ", Moody's has assigned rating" Baa1 "evronotam Company

International rating agency Fitch has confirmed long-term issuer default rating of Gazprom for the obligations of national and foreign currency at "BBB" with a negative outlook. In doing so, the report says the agency, priority unsecured rating and the rating of companies issuing debt Gaz Capital SA confirmed at the level of "BBB". Confirmation of the ratings followed the message that "Gazprom" signed an agreement on the performance of an option to buy 20 percent stake in OAO "Gazprom oil" from the Italian Eni Spa. In turn, the international rating agency Moody's Investors Service has assigned a preliminary rating Baa1 evronotam (Loan Participation Notes), issued on behalf of Gaz Capital SA, acting in the interests of Gazprom. Outlook on the rating - "Stable". Issue volume of 400 million Swiss francs ($ 350 million) will have a yield of 9% a year and the maturity of 2 years. Moreover, Gazprom is the first time issue bonds in Swiss francs. Given the good performance of the company in the 3 rd quarter and forecasts of its income earnings, "Gazprom", according to the agency, has sufficient capacity and financial flexibility that the new debt is within the rating of Baa1, notes Moody's. Placing Eurobonds of Gazprom is the first deployment of Russian borrowers in the west of the capital market in August last year. Sam Gazprom not to place Eurobonds in July last year. Then he went to the market to eurobonds on $ 500 million 5-year yield securities was 7.53% per annum.

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