7 Nov 2012 12:19

Fitch affirms NOVATEK ratings at BBB-, outlook stable

LONDON. Nov 7 (Interfax) - International ratings agency Fitch Ratings has affirmed OJSC NOVATEK's long-term issuer default rating in foreign and national currency and its senior unsecured debt rating at 'BBB-', as well as its long-term national scale rating at 'AA+(rus)', the agency said in a press release.

The outlook on these ratings is stable.

The affirmation of these ratings follows NOVATEK's announcement that it is purchasing 49% of CJSC Northgas from R.E.D.I. Holdings for $1.375 billion. According to the gas company's estimates, the transaction should be completed this year.