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Russian Energy Utility RAO UES Ratings Raised & Withdrawn; Federal Grid Co. Still On Watch Pos Jul 08 Product Image

Russian Energy Utility RAO UES Ratings Raised & Withdrawn; Federal Grid Co. Still On Watch Pos Jul 08

  • ID: 1857836
  • July 2008
  • Region: Russia
  • Standard & Poors

Abstract
MOSCOW (Standard & Poor's) July 2, 2008--Standard & Poor's Ratings Services said today that it had raised its long-term corporate credit rating on 52.7% Russian government-owned energy utility holding company RAO UES of Russia to 'BBB' from 'BB' and the Russia national scale rating to 'ruAAA' from 'ruAA' following the completion of RAO UES' merger with Russian electricity transmission grid operator Federal Grid Co. of the Unified Energy System (FGC; BBB/Watch Pos/--) on July 1, 2008. The long-term rating remains on CreditWatch, where it was placed with positive implications on Oct. 31, 2007, following shareholder approval for the second stage of RAO UES' restructuring and merger with FGC. At the same time all ratings on RAO UES were withdrawn, because...

Companies mentioned in this report are: RAO UES of Russia,Federal Grid Co. of the Unified Energy System
Action: Affirmed
Action: On CreditWatch:Positive
Action: Upgraded
Action: Withdrawn

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

RAO UES of Russia,Federal Grid Co. of the Unified Energy System

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