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Moody’s downgrades Gazprom’s foreign currency rating

December 24, 2014, 3:46 UTC+3 NEW YORK
It also placed on review for downgrade the ratings of more than 60 Russian companies, including Tatneft oil company and Nizhnekamskneftekhim petrochemical company
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© EPA/ANDREW GOMBERT

NEW YORK, December 24. /TASS/. Moody’s Investors Service has downgraded the foreign currency rating of the Russian Gazprom gas giant and its supported entities to Baa2 from Baa1 with a negative outlook, the agency said in a statement posted on its website on Tuesday.

“This action reflects the ongoing severe and rapid deterioration in the operating environment in Russia and the heightened risk of a more prolonged and more acute economic downturn than originally anticipated,” it said.

It also placed on review for downgrade the ratings of more than 60 Russian companies, including Tatneft oil company and Nizhnekamskneftekhim petrochemical company.

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