The Gazprom Neft Board of Directors reviews management of the company’s debt portfolio

The Gazprom Neft Board of Directors has reviewed information on management of the company’s debt portfolio throughout 2015, as well as proposals for its optimisation in 2016. Gazprom Neft is working towards diversifying its debt portfolio and secure financing under optimum interest rates for the longest possible term, while ensuring the company’s financial stability.

The difficult macroeconomic situation and market conditions notwithstanding, the company completed an approved borrowing programme in 2015, in the course of which it secured finance from, in particular, Sberbank, Promsvyazbank, and Rosselkhozbank. In 2015, for the first time in the company’s history, China’s most important ratings agency, Dagong Global Credit Rating Company Limited, assigned Gazprom Neft a high long-term issuer credit rating in respect of its Russian-currency obligations — AA — with a stable outlook, and an AA— rating on its foreign-currency obligations. The assignment of an investment-grade rating from an authoritative rating agency further increases Gazprom Neft’s opportunities in raising funds on the Asian financial markets.