Chinese rating agency gives Russia's Gazprom AAA
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E-mail CRI, February 3, 2015
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Chinese credit rating agency Dagong. [File photo] |
Chinese credit rating agency Dagong has given an AAA rating to Russian natural gas giant Gazprom, despite falling oil prices.
The high-end rating also comes despite the massive downswing in the Russian ruble and the tensions between Europe and Russia.
Dagong's AAA rating is a rare backing to Gazprom, given that other rating agencies are maintaining a "negative" outlook for Russia's debt.
Dagong chair Guan Jianzhong:
"The sharp decline of oil prices will definitely have some impact on Gazprom's revenues, but the company can still rely on its long-term deals with bigger clients including China and the European Union. So the influence from oil prices will be very limited."
Dagong says its rating is based on agreements between Gazprom and the Chinese government this past year, which will provide natural gas through both a western and eastern line.
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