Research Update: Russia's Federal Grid Co. Lifted To 'BB+/ruAA+' Following Review; Off Watch; Outlook Pos Feb 07
- ID: 1857922
- February 2007
- Region: Russia
- Standard & Poors
On Feb. 2, 2007, Standard & Poor's Ratings Services raised its long-term corporate credit rating on Russian electricity transmission grid operator Federal Grid Co. of the Unified Energy System (FGC) to 'BB+' from 'B+' and its Russia national scale rating to 'ruAA+' from 'ruA+'. At the same time the ratings were removed from CreditWatch, where they had been placed with positive implications on Nov. 15, 2006. The outlook is positive. The upgrade reflects the increased probability of extraordinary government support for FGC in case of financial distress, and follows a review of Russian governmental influence on government-related entities (GREs). We believe that FGC's strategic and economic importance; the strengthened financial position of the government of the Russian Federation (foreign currency...
Companies mentioned in this report are: Federal Grid Co. of the Unified Energy System,RAO UES of Russia
Action: Outlook: Positive
Action: Removed From CreditWatch
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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