Moody’s confirms Ba1 ratings of Russian oil, gas companies
MOSCOW, Apr 26 (PRIME) -- International rating agency Moody’s Investors Service has confirmed ratings of Russia’s gas giant Gazprom, oil companies Gazprom Neft, Rosneft, and Lukoil and of independent gas producer Novatek at Ba1 with a negative outlook, the agency said in a statement Tuesday.
“These actions conclude the rating reviews initiated by Moody's on January 22, 2016,” the agency said.
“Our decision to confirm the ratings of Russian oil and gas majors reflects our view that they will be able to maintain solid credit metrics in a ‘lower-for-longer’ oil price environment helped by ruble weakness and a favorable tax system. However, their ratings will remain constrained at Ba1 by the sovereign rating and outlook,” the agency quoted its Vice President and Senior Credit Officer Denis Perevezentsev as saying.
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