Fitch Ratings Affirms Novatek OAO's Rating-Interfax

Wednesday, 7 Nov 2012 12:19am EST 

Interfax reported that international ratings agency Fitch Ratings has affirmed Novatek OAO'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 OAO's announcement that it is purchasing 49% of CJSC Northgas from R.E.D.I. Holdings for $1.375 billion. According to the Company's estimates, the transaction should be completed this year. 

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