Deutsche Sells Naftogaz Debt To Gazprombank And DEPFA.

According to media reports, Deutsche Bank sold the EUR 2 bln credit line it arranged for Naftogaz Ukrainy to Gazprombank (Russia) and DEPFA Investment Bank (DEPFA Group, Ireland). Concorde Capital: At first glance, it looks like Gazprom is trying to get access to information about Naftogaz’s operating activity that may give the Russian gas giant some leverage in its negotiations with Ukraine. Additionally the gas crisis has made Naftogaz an excessive risk for Deutsche. In January this year Fitch Ratings has downgraded Naftogaz rating outlook from “stable” to “negative”. Naftogaz’s rating is BB- (speculative grade).