Moody's eyes cutting Wintershall Dea

Moody's Investors Service said it placed all its ratings of Wintershall Dea GmbH its subsidiaries on review for downgrade following the ongoing reviews for downgrade on Russia's B3 sovereign rating.

“The review for downgrade reflects downside credit risks stemming from the potential for additional, more severe sanctions to affect Wintershall Dea's operations and credit profile,” Moody’s said in a press release.

The agency noted the company has several joint ventures with Gazprom, PJSC to produce gas and condensate in Russia and to distribute gas through pipelines in Western Europe. Nearly half of Wintershall Dea’s annual oil and gas production is in Russia.

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