Dagong has rated Gazprom Neft at “AA” in local and “AA-” in foreign currency, forecast “stable”

The leading Chinese rating agency Dagong Global Credit Ratings has rated Gazprom Neft’s long-term credit rating “AA” in local and “AA-” in foreign currency, both with a “stable” forecast, the agency reports.

Gazprom Neft has a high competitive potential compared to other companies of the sector, is said in the document. The experts of Dagong think that the company has quite a strong potential for a rise of its market capitalization and good paying ability. Taking into account the rise of its debts in foreign currency and a number of restrictions in the market of foreign financing, the paying ability of Gazprom Neft in foreign currency is a bit lower than in the local currency, is said in the press release.