Fitch Ratings has affirmed National Joint Stock Company Naftogaz's (Naftogaz) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B'. The Outlook is Stable.
The rating is equalised with the sovereign rating of Ukraine (B/Stable), as the company has strong linkage with sovereign. Among other key rating drivers Fitch assumes strategic importance of Naftogaz as Ukraine's largest natural gas production, wholesale and supply company, volatile regulatory environment, e. g. expecting full cancellation of the PSO regime vs other evolving regulations, FX risks, intensive capex plans and business profile transformation.
Last month, Naftogaz Group has released its new corporate strategy-2025. By 2025, the Group plans to unleash the potential of the country's energy markets and create a platform for supplying solutions to consumers. The document envisages the future of Naftogaz based on three business platforms: "Gas Business", "B2C/Utility" and "Low Carbon Businesses" with an aim to achieve carbon neutrality by 2040.
Integrated Communications Department
NJSC Naftogaz of Ukraine