Gazprom, PJSC -- Moody's assigns Ba1 rating to Gazprom's LPNs

London, 03 November 2016 -- Moody's Investors Service (Moody's) has today assigned a Ba1 rating with a loss given default assessment of LGD4 to the proposed senior unsecured EUR loan participation notes (LPNs) to be issued by, but with limited recourse to, Gaz Capital S.A. (Gaz Capital, Ba1 negative), a public limited liability company incorporated in Luxembourg. Gaz Capital will in turn on-lend the proceeds to Gazprom, PJSC (Gazprom, Ba1 negative) for general corporate purposes. The noteholders will rely solely on Gazprom's credit quality to service and repay the debt.

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