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E-mailLondon, 15 December 2009
Moody's Special Comment 'Russian Integrated Oil and Gas Companies: 2008-09 Review and 2010 Outlook'. The English version of the press release is pasted below, the Russian version attached.
In the report Moody's says that Russian integrated oil and gas companies have overall experienced stability in their credit ratings despite the unfavourable market environment since the second half of 2008. Upgrade potential is currently limited, but improvements in risk factors specific to Russia and in the country's sovereign credit profile could have positive rating implications for these issuers in the longer term.Moody's rates six integrated oil and gas companies in Russia. Five of the six companies have investment-grade ratings and all the issuers currently have a stable rating outlook. Of this rated universe, Moody's classifies three as government-related issuers -- Gazprom, Rosneft and Tatneft -- whose ratings incorporate a certain level of support from and dependence on the Russian state.
Should you wish to extract quotes from the report or press release, please attribute them to Victoria Maisuradze, Vice President - Senior Analyst, Moody"s.
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