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Gaz Capital's proposed loan participation notes rated 'BBB-' - Fitch


Published : Tue, 30 Oct 2007 11:53
By : Agencies
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MUMBAI (Thomson Financial) - Fitch Ratings said it has assigned its 'BBB-' rating to Gaz Capital SA's proposed loan participation notes issue.

The ratings agency said the notes will be issued in one or more series nominated in Japanese yen and will be used to finance OAO Gazprom's loans.

The noteholders will rely solely on Gazprom's credit and financial standing for the payment obligations under the notes, Fitch said.

The ratings agency said the notes will be issued under Gaz Capital's debt issuance programme also rated 'BBB-'.

Fitch said a final rating for the issue will be assigned once the tenor and amount of the bonds are decided.

TFN.newsdesk@thomson.com

ans/ypv/man

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