Wednesday, 23 July 2014

Moody's: Russia Sanctions Hamper Rosneft, Gazprom Debt Refinancing | News | The Moscow Times

Moody's: Russia Sanctions Hamper Rosneft, Gazprom Debt Refinancing | News | The Moscow Times:



"Russian companies, including oil giant Rosneft, may face challenges refinancing $112 billion in debt due to mature over the next four years, a report by Moody's Investors Service said.



Moody's said there was a very significant bank and bond debt maturity hurdle for Russian companies concentrated among Rosneft and state-controlled gas company Gazprom in 2015.



Russian companies are facing tougher conditions to refinance international loans since the West imposed sanctions on some of them over Russia's involvement in Ukraine. On top of this, the country's economy has slowed and is expected to grow just 0.5 percent this year."



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