Moody's Investors Service has downgraded Gazprom's foreign-currency ratings to Baa3 from Baa2 and local-currency ratings to Baa2 from Baa1, which it reported in a statement on Tuesday.

Concurrently, Gazprom's short-term foreign-currency ratings have been downgraded to Prime-3 from Prime-2 and its short-term local-currency ratings have been affirmed as Prime-2.

All ratings remain on review for further downgrade.