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Russian energy giant Gazprom gets highest credit rating from China’s Dagong agency

February 02, 2015, 9:00 UTC+3 BEIJING
This allows Gazprom to place shares in Hong Kong
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© AP Photo/Kai-Uwe Knoth

BEIJING, February 2. /TASS/. China’s Dagong Global rating agency has for the first time assigned to Russian energy giant Gazprom a "AAA" long-term credit rating, the highest-possible rating, for both local and foreign currencies, with a stable outlook.

The agency’s president, Guan Jianzhong, said on Monday this allows Gazprom to place shares in Hong Kong. "The rating reflects a very high potential of the company," he said, adding that Dagong will keep the "stable" outlook for Gazprom’s long-term credit rating over the next 1-2 years.

Russia’s "shift to the East" strategy will open broad prospects for the company for the development in the Asia-Pacific region, Jianzhong said. "This will allow Gazprom to stabilize and improve its mid-term and long-term profitability," he added.

The sanctions, introduced by the United States and the EU countries against Russia, and also a short-term deterioration of the Russian economic situation will not significantly affect Gazprom’s financial solvency, he added.

The EU countries will not dare to introduce sanctions against Gazprom, he said. "The company is a key gas supplier to the European countries. Although the EU states imposed economic and financial sanctions against Russia, however due to their personal interests, they will not take any actions against Gazprom," Jianzhong said.

Jianzhong said Dagong’s assessments are "very important" taking into consideration the latest ratings of the top three ratings agencies - Standard & Poor's (S&P), Fitch and Moody's.

"They [Dagong’s evaluations] allow investors to assess the Russian company in a more objective way," he said.

China’s Dagong Global rating agency was established in 1994. Its ratings are recognized by the Chinese government.

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