FRANKFURT, Feb. 5 - Moody's has confirmed the Ba3 Corporate Family Rating as well as the Ba2 rating for the $500 million senior unsecured Loan Participation notes of Naftogaz Ukrayiny, the agency said in a press release. The rating outlook is stable.

At the same time, Moody's has lowered the Baseline Credit Assessment ("BCA") to 17 from 16, which however has no impact on the ratings given ongoing strong expected support and low dependence.