London, 25 November 2015 -- Moody's Investors Service has today said that it views as credit positive for OAO Novatek (Ba1 negative) announcement on 24 November that OAO Yamal LNG (not rated) had issued RUB75 billion ($1.16 billion) of 15-year bonds. The successful issuance indicates that external creditors' approvals are in place and paves the way for external creditors to fully fund Yamal LNG on a project finance basis from 2016 limiting Novatek's exposure to this project as the key shareholder. This deal does not impact Novatek's current rating and outlook, which remains constrained by Russia's sovereign rating and country ceiling, both of which are Ba1 negative.

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