29.04.2016, 12:27
Moody's Has Reconfirmed International Credit Rating of Inter RAO Group
OREANDA-NEWS. International credit rating agency Moody's Investors Service has reconfirmed corporate credit rating Ba2 for Inter RAO Group on the global scale, the outlook is stable.
At the same time the agency upgraded Inter RAO's baseline credit assessment (BCA) to ba2 from ba3, whilst continuing to factor in the company's Ba2 rating strong probability of state support in the event of financial distress, as well as high default dependence between the company and the Russian government.
Moody's noticed strong credit metrics of the company in financial year 2015. The agency expects that the company's credit profile will continue strengthening in the next 12-24 months. This is underpinned by ongoing commissioning of new capacities built under Capacity Delivery Agreement (CDA) and by the reduction of capex starting from 2017 to maintenance levels following the completion of the investment cycle.
At the same time the agency upgraded Inter RAO's baseline credit assessment (BCA) to ba2 from ba3, whilst continuing to factor in the company's Ba2 rating strong probability of state support in the event of financial distress, as well as high default dependence between the company and the Russian government.
Moody's noticed strong credit metrics of the company in financial year 2015. The agency expects that the company's credit profile will continue strengthening in the next 12-24 months. This is underpinned by ongoing commissioning of new capacities built under Capacity Delivery Agreement (CDA) and by the reduction of capex starting from 2017 to maintenance levels following the completion of the investment cycle.
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