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Fitch Gives Gazprom Negative Outlook

Fitch Ratings on Tuesday slapped a negative outlook on Russian state-owned energy major Gazprom s while affirming its long-term foreign and local currency issuer default rating at "BBB," the agency said in an online statement.

Fitch also affirmed Gazprom's foreign currency senior unsecured rating at "BBB," its short-term foreign currency IDR at F3 and national long-term rating at AAA.

"Gazprom's ratings reflect our forecasts that Gazprom will remain a vital gas supplier to Europe despite competitive and political pressures," the statement said. "At present, European gas buyers are limited in the ability to diversify deliveries, in so much as gas production in Europe is falling, and global prices for liquefied natural gas remain high."

See also:

Naftogaz Asks Gazprom to Review Gas Transit Contract

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