Russian Energy Utility RAO UES Ratings Raised & Withdrawn; Federal Grid Co. Still On Watch Pos Jul 08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
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 At the same time all ratings on RAO UES were withdrawn, because...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: On CreditWatch:Positive
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