Ratings
Standard & Poor's

Standard & Poor's Ratings
| Date | Forecast | Description |
|---|---|---|
| August 18, 2010 | ВВВ (outlook: stable) |
Outlook changed from “negative” to “stable” |
| October 24, 2008 | ВВВ (outlook: negative) | |
| November 29, 2006 | ВВВ (outlook: stable) | |
| October 13, 2006 | ВВВ- (outlook: stable) |
Gazprom Rating Raised To 'BBB-'; Outlook Stable |
| January 16, 2006 | BВ+ | |
| October 13, 2005 | BВ | |
| July 12, 2005 | ВВ- (outlook: positive) | |
| May 18, 2005 | ВВ- (outlook: developing) | |
| November 30, 2004 | BB- | |
| September 15, 2004 | BВ- (outlook: developing) | |
| November 24, 2003 | ВВ- (outlook: stable) | |
| December 6, 2002 | В+ (outlook: positive) | |
| December 20, 2001 | В+ (outlook: stable) | |
| November 26, 2001 | В (outlook: positive) |
Fitch Ratings

Fitch Ratings
| Date | Forecast | |
|---|---|---|
| August 2, 2010 | BВB (outlook: stable) |
Long-term credit ratings maintained at “BBB” |
| January 22, 2010 | BВB (outlook: stable) |
Outlook changed from “negative” to “stable” |
| February 4, 2009 | “BВB” (outlook: negative) |
Outlook changed from “stable” to “negative” |
| April 1, 2008 | “BВB” (outlook: stable) |
Long-term credit rating upgraded from “ВВВ-” to “ВBВ” |
| December 5, 2006 | “BВB-” (outlook: positive) |
Outlook changed from “stable” to “positive” |
| July 13, 2006 | “BВB-” (outlook: stable) |
Long-term credit rating upgraded from “ВВ+” to “ВBВ-” |
| August 12, 2005 | “BB+” (outlook: stable) |
Long-term credit rating upgraded from “BB” to “ВВ+” |
| November 18, 2004 | “BB” | |
| September 16, 2004 | “BB” |
Rating placed on Rating Watch Evolving |
| September 16, 2003 | “BB” (outlook: stable) |
Assignment of credit rating |
Moody's

Moody's Ratings
| Date | Forecast | Description |
|---|---|---|
| July 31, 2009 | “Вaa1” (outlook: stable). Credit rating downgraded from “А3” to “Baa1” |
Moody's assigns Gazprom Prime-2 short-term rating |
| April 3, 2009 | “Вaa1” (outlook: stable). Credit rating downgraded from “А3” to “Baa1” |
Moody's downgrades Gazprom's ratings to Baa1 |
| December 15, 2008 | “А3” outlook changed from “positive” to “stable” |
Moody's changed Gazprom's outlook to stable |
| July 16, 2008 | “А3” outlook upgraded from “stable” to “positive” | |
| December 19, 2006 | “А3” (outlook: stable). Credit rating upgraded from “Вaa1” to “А3” |
Moody's upgrades Gazprom to A3 Stable Outlook |
| May 24, 2006 | “Baa1” (outlook: stable). Credit rating upgraded from “Вaa2” to “Baa1” | |
| October 26, 2005 | “Baa2” (outlook: stable). Credit rating upgraded from “Вaa3” to “Baa2” | |
| July 8, 2005 | “Вaa3” (outlook: positive). Credit rating downgraded from “Вaa2” to Baa3 | |
| June 23, 2005 | “Вaa2” (outlook: positive). Credit rating upgraded from “Вaa3” to “Вaa2” | |
| December 8, 2004 | “Вaa3” (outlook: positive). Credit rating upgraded from “Вa1” to “Вaa3” | |
| September 15, 2004 | “Вa1”. Rating placed on review for possible upgrade | |
| April 22, 2004 | “Ba1” (outlook: stable). Assignment of credit rating |


