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S&P rates Gazprom notes BB+
S&P said it assigned its BB+ long-term debt rating to a proposed issue of loan participation notes by Gaz Capital SA, a financing vehicle of Gazprom PJSC (foreign currency BB+/positive/B, local currency BBB-/positive/A-3).
The notes are to be issued within the framework of Gazprom's $40 billion European medium-term note program. The rating on the LPNs mirrors the long-term foreign currency corporate credit rating on Gazprom.
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